Amid concerns about energy stability due to global conflicts, the electric two-wheeler (E2W) market in India experienced a significant surge in March. According to a report by Inc42 Media, E2W registrations saw a 59% increase to 1.78 lakh units, with major players like Hero MotoCorp and TVS witnessing substantial growth in sales.
Hero MotoCorp reported a nearly 59% rise in electric scooter sales, while TVS, the market leader, recorded a 47% month-on-month increase in E2W sales to 46,859 units. TVS’s introduction of a battery subscription model and a new affordable electric scooter contributed to this growth.
Bajaj’s E2W sales grew by 68% in March, boosted by the launch of an affordable electric variant of its classic Chetak scooter. Ather Energy, the third-largest E2W manufacturer, also saw a 19% increase in monthly sales to 33.6K units by focusing on more budget-friendly options.
This surge in E2W sales showcases a growing consumer interest in electric mobility solutions, driven partly by concerns over energy security. Manufacturers’ efforts to lower entry barriers through discounts, subsidies, and innovative pricing models have played a vital role in accelerating the adoption of electric two-wheelers.
Source: Inc42 Media