Sale of Electric 2-Wheelers: India's electric 2W market touches 1 million annual sales for the first time

Sale of Electric 2-Wheelers : Sales of electric 2-wheelers in India have achieved a new milestone. Demand for electric scooters, motorcycles and mopeds remains strong, showing consistent double-digit growth rates throughout the year. From January 1 to November 11, 2024, more than 1 million (10 lakh) electric 2-wheelers have been sold. According to the Vahan website, a total of 10,00,987 units have been sold during this period.

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The top four original equipment manufacturers (OEMs) – Ola Electric, TVS, Bajaj Auto and Ather Energy – together capture 83% of the market, with Ola Electric leading with 37% of sales. Maharashtra emerged as the top state with sales of 182,035 units, garnering 18% share in total sales. Bajaj Auto is at third position with sales of 1,57,528 units and 16% share. Ather Energy is at fourth position with sales of 1,07,350 units and 10.72% share.

Tremendous increase in sales
The electric 2-wheeler segment is growing very fast in India. The segment is expected to see a 36% growth in 2023, and record sales of 1.1 to 1.2 million units by the end of 2024. If we talk about this year's growth, it is 36% more than last year and 540% more than 2021 when only 1,56,325 units were sold.

State wise sales figures
If we talk about state-wise sales figures, Maharashtra is at the forefront, where a total of 1,82,035 units have been sold and the state's share is 18.18%. After this, Uttar Pradesh is at second place with 1,57,631 units and 15.74% share, while Karnataka is at third place with sales of 1,37,492 units and 13.73% share.