Ola Electric and Ather Energy have been surpassed by the likes of Okinawa, Ampere and Hero Electric by a significant margin
Electric two-wheeler brands have witnessed a surge in demand with a YoY growth of 938 percent in June 2022. Total retail sales in this segment stood at 42,260 units, up from 4,073 units sold in June 2020 relating to a 938 percent growth while MoM sales increased by 7 percent over 39,520 units sold in May 2022. All established electric two wheeler makers tripled or quadrupled their sales on a YoY basis, while there were several others that have recently entered the fray.
Okinawa Autotech topped the list with retail sales of 6,981 units in June 2022, up 628 percent or a 7-fold increase over 959 units sold in June 2021. Sales had however been higher in May 2022 at 9,305 units leading to a 25 percent MoM de-growth. Okinawa’s current range includes the likes of Okinawa Praise, R30, i-Praise, Lite, Ridge Plus and Dual while the company has recently launched Okhi 90. Keen to expand its EV business, the company has also announced investment of Rs 1200-1,500 crores into a mega factory to expand its electric two-wheeler business over next two years.
Electric Two Wheeler Sales June 2022
At No. 2 was Ampere Vehicles with sales of 6,540 units in June 2022. This was a YoY growth of 2340 percent over 268 units sold in June 2021. MoM retail sales increased by 12 percent from 5,836 units sold in May 2022. Greaves Electric Mobility recently announced production of its 50,000th electric two wheeler from the company megasite in Ranipet.
Hero Electric was at No. 3 with sales of 6,503 units in June 2022, up 442 percent YoY over 1,200 units sold in June 2021. MoM sales improved 128 percent from 2,851 units sold in May 2022. Each of these three e-scooter makers have a range of products which also include B2B and low speed e-scooters that has assisted them in grabbing a major share of the pie.
Ola Electric slipped to 4th place with 5,883 e-scooter registrations in June 2022. This was a 36 percent MoM de-growth over 9,255 units sold in May 2022. Ola has faced buyer’s wrath over quality and also for not including features as promised while fire incidents also took its toll on sales. Ather Energy retail sales stood at 3,816 units in June 2022, up 1096 percent from 319 units sold in June 2021. MoM sales also increased 14 percent from 3,338 units sold in May 2022.
Revolt, Bajaj, TVS Electric 2W Sales June 2022
The highest YoY increase in retail sales was experienced by Revolt Intellicorp. Sales were up 4007 percent from 59 units sold in June 2021 to 2,423 units sold in the past month. MoM sales growth was at 53 percent from 1,586 units sold in May 2022.
TVS Motor electric two wheeler retails sales were up 204 percent YoY and 339 percent MoM to 1,944 units. The company expects to see higher demand for the iQube in the months ahead as the new model year change brought in several feature updates. The iQube is offered in 3 trims and priced from Rs 98,654 to Rs 1,19,663.
Bajaj Auto retail sales stood at 1,795 units in June 2022, up 920 percent over 176 units sold in June 2021. MoM sales improved marginally by 4 percent from 1,725 units sold in May 2022. There was also PUR Energy (1,125 units), Benling India (956 units), Okaya EV (760 units) and Twenty Two Motors (751 units) retail sales. Jitendra posted a 1174 percent YoY growth to 548 units in June 2022 from 43 units sold in June 2021 but a 12 percent MoM de-growth over 626 units sold in May 2022.
|No||Electric Two Wheeler||Jun-22||Jun-21||Growth % YoY|
Lower down the order was Lectrix EV (519 units), Goreen (446 units), KLB Komaki (358 units) and MEW (298 units). The list also included RGM sales at 111 units in the past month along with 76 units from Elthor, 58 units from Micelio and 56 unit retail sales of Eco Fuel Systems. There were also others on this list that saw retail sales of 214 units in June 2022 up from 28 units sold in June 2021 and 195 units sold in May 2022.