In a breakthrough year for the electric two-wheeler segment, 2023 witnessed a remarkable surge in sales, with Ola Electric emerging as the undisputed leader, supplying more than 31% of the total electric two-wheelers sold in the calendar year. The industry reported a total of 8.59 lakh units sold, marking a significant milestone for the growing electric mobility sector.
Ola Electric’s commanding presence in the market underscores the brand’s commitment to driving the transition towards sustainable transportation. With sales exceeding 2.67 lakh units, Ola Electric’s contribution played a pivotal role in shaping the electric two-wheeler landscape. The company’s success can be attributed to its innovative product offerings and a robust infrastructure supporting widespread adoption.
Securing the second position, TVS Motor demonstrated substantial growth in the electric two-wheeler space, accounting for 1.66 lakh units sold and capturing a market share exceeding 19%. Ather Energy followed closely with sales totaling 1.04 lakh units, solidifying its position as a key player in the electric mobility market. Bajaj Auto, with 71.8 thousand units sold, secured a market share of 8.36%, further diversifying the competitive landscape.
The top 10 suppliers collectively contributed to 89% of the total electric two-wheeler sales, achieving a commendable 7.65 lakh units sold in the calendar year. This consolidation reflects the market’s reliance on a select group of manufacturers that are steering the electric mobility revolution forward.
Among the notable performers in the top 10 list were Ampere Vehicle, Okinawa Autotech, Hero Electric, Greaves Electric Mobility, Okaya EV, and BGauss Auto, each making significant strides in the electric two-wheeler market. Their collective efforts accounted for the remaining 11% of the market share, highlighting the diverse range of offerings and strategies employed by manufacturers to cater to the evolving consumer demands. This surge in electric two-wheeler sales is indicative of a broader shift towards sustainable and eco-friendly transportation solutions. As technology continues to advance and consumer awareness grows, the electric mobility sector is poised for further expansion. The success of Ola Electric, TVS Motor, Ather Energy, and others underscores the industry’s potential to revolutionize the way we commute, contributing to a greener and cleaner future.
