IN A MARKET that once used to be dominated by legacy two-wheeler companies, home-grown electric two-wheeler start-up Ather Energy became a unicorn last year, a move that re-shaped India's electric vehicle (EV) landscape.
The growth seen in the electric two-wheeler category last year testifies that it's no longer a niche segment, but a battleground for both start-ups and legacy players alike. The recently concluded Bharat Mobility Global Expo showcased this shift, proving that electric scooters are leading India's EV transformation.
According to data from road and transport ministry's Vahan portal, India's EV sales in CY24 stood at 1.95 million units compared to 1.53 million units in 2023. Of this, the electric two-wheeler sales stood at 1.15 million units in CY24, a 33% year-on-year growth from 860,418 units in CY23.
Growth in electric two-wheeler sales was driven by a policy push towards charging as well as an improved consumer sentiment. Multiple players entered the segment by launching products at affordable prices. Discounting by some electric two-wheeler players, such as Ola Electric and Ather Energy, as well as expansion by twowheeler manufacturers in Tier II and Tier III cities, further provided a boost to electric two-wheeler sales.
Esta historia es de la edición February 16, 2025 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 16, 2025 de Business Today India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
VINE TO VINO
Calling all wine lovers to explore India's wine trails and vineries
TIGHT FINISHES AT TOLLY
RAZOR-SHARP COMPETITION WAS THE ORDER OF THE DAY FOR ROYAL RANTHAMBORE BT GOLF'S KOLKATA LEG AT THE HISTORIC TOLLYGUNGE CLUB
Helping More Indians Fly
We need to think and dream big, and combine that with flawless and speedy execution, accompanied by deep reforms
Fighting The Dragon
China's subsidies and export strategy have accelerated its dominance in the EV space. Amid fears of EV 'dumping', can India withstand the Chinese onslaught?
Buckle up for the Ride of a Lifetime
Many IPOs flunked, while several fell below ethical governance standards, and quite a few bombed. However, the capital markets have their own way of self-regulating excesses
❝Slow down but stay involved"
IndiQube provides flexible workspaces
Ready for Take-off
Total passenger traffic has grown from around 120 million to over 236 million per annum. Indian aviation sector continues to soar, and the best is yet to come
BURMANS IN CONTROL
After a long battle, the Burman family has seized control of Religare. It needs to infuse money and get it back on track
Reimagining India's Public Sector
India's policies since 1991 have been to get government out of business' way. Robust public sector is needed for providing basic needs equitably
No Theme Lasts Forever
A sensible investment strategy involves ignoring the noise and using a systematic criterion to pick assets. A good investment strategy can be boring
