homeauto NewsElectric 2 wheeler sales hit all time high in Oct — here's company wise breakup

Electric 2-wheeler sales hit all-time high in Oct — here's company-wise breakup

Electric 2-wheeler sales hit all-time high in Oct — here's company-wise breakup
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By Nishtha Pandey  Nov 10, 2022 1:31:40 PM IST (Updated)

Ola Electric was the market leader in the 2-wheeler EV segment for the second time in a row. Data on Vahan suggested that the company sold 15065 units (up 50%) in October, while the company said the figure was 20000.

Electric two-wheelers sales were at an all-time high in October. As per data from the government website Vahan, which tracks vehicle registrations, the number stood at 75,294 units.

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A growth of 30 percent has been registered over October 2021 and sequentially to the numbers saw a growth. In August electric two-wheelers sales stood at 51,213 units while in September it was at 52,975 units.

Ola Electric was the market leader in the two-wheeler EV segment for the second time in a row. Data on Vahan suggested that the company sold 15,065 units in October, up nearly 50 percent from 9,875 units in September.

However, the company has claimed that it sold 20,000 units of Ola S1 and S1 Pro in October, hitting an all-time high in 2022.

It's a huge step forward for the Bengaluru-based EV maker, which was fifth in August with 3,440 registrations.

According to the statement released by Ola Electric, the company gained more than 60 percent growth sequentially, while the overall EV two-wheeler industry grew by almost 30 percent. As part of its festive season performance, it recorded a 4x increase over its daily run rate during Navratras, and a 10x increase on Vijayadashami.

Okinawa sold 13,144 units and stood second; followed by Ampere, the two-wheeler brand from Greaves Electric Mobility Private Limited at 9,173 units; Hero Electric at 8,348 units; and Ather Energy at 7,087 units, as per Vahan data.

Greaves Electric has claimed that the company sold 10,092 units.

“The sales of Ampere 2-wheelers have seen a steady growth trajectory, recording significant growth in the festive period of this year. The industry has crossed a new breakthrough in EV sales, which is a testament to the growing demand for electric vehicles by consumers. The industry is at an inflection point, aided by government subsidies, more thrust on localisation, increased product innovation, and consumer preference for sustainable transport solutions,” Sanjay Behl, CEO & Executive Director, Greaves Electric Mobility, told CNBC-TV18.com.

On future prospects, he added that GEMPL will continue to accelerate EV adoption and ownership across India in the last-mile mobility segment, through products across diverse price points.

Ather Energy, meanwhile, claimed that it delivered 8,213 units in October, registering a 122 percent growth from the corresponding period a year ago.

The growth was aided by demand from across the country, according to the company.

“Importantly, the growth came from new as well as existing cities, and we expect this momentum to get stronger over the next few months. Having addressed the supply chain issues over the last few months, our focus is now on servicing the strong demand that we are seeing, and ensuring that we keep the waiting period down to a bare minimum for our customers,” said Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said.

Meanwhile Okinawa Autotech claimed to have sold 17,531 units. The company attributed the growth to the popular demand for its electric scooters, including Praisepro, IPraise+, Okhi-90, Ridge+, LITE, R30 and Dual.

As reported by Moneycontrol, Jeetender Sharma, Founder and MD, Okinawa Autotech, said, “Customer sentiment has been improving post-pandemic and we are confident of carrying forward this sales momentum in the coming months.”

Experts also believe that there will be massive EV growth in the future with consumers addressing the technology and the government promoting the same.
"Evidently, the growth of EVs on Indian roads has been rapid. EV adoption by businesses, both for employee transport and for last-mile goods deliveries, is a silent revolution underway. Net zero goals of governments and large corporations will further intensify the pace at which businesses replace their transport fleet with electric, " said Sanjay Krishnan, Founder, Lithium Urban Technologies,  India's first zero-emission urban mobility company.
He further added that to empower this movement manufacturers need to innovate, build new products on native EV platforms and introduce large form factor vehicles such as trucks, buses and coaches to cater to the demands of business users.
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