Indian Electric Two-wheelers: 64 companies
Start-up companies to enter market, with domestic market expected to exceed 1M units in 2022
India is one of the largest two-wheeler markets in the world. The two-wheeler is the most preferred means of commuting for the Indian population. In line with the global trend of electric mobility, India is also gearing up for the adoption of electric vehicles. It is expected that in India, two-wheelers will be the first category to embrace electric mobility trends.
India has witnessed strong growth in the sales of electric two-wheelers in recent years. Electric two-wheeler sales grew better than existing automotive categories in 2021. The main factors which are driving sales growth are sound government policies, improved charging infrastructure, rising fuel prices, increased localization of electric two-wheeler manufacturing, adoption of e-commerce platforms, etc. The Indian Government is also promoting electrification to reduce pollution and dependency on oil imports.
Major Indian OEMs such as Hero MotoCorp, Bajaj, TVS Motor, etc. have already announced plans for e-mobility. In recent years, many start-ups have emerged in this field including ola electric, Ather Energy, Wardwizard, simple energy, Okinawa, etc. They have raised good investment and planning large manufacturing facilities to produce electric two-wheelers.
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