Ola Electric, the Indian ride-hailing giant’s electric vehicle arm, has once again emerged as the leader in the country’s electric two-wheeler market. According to data from the government’s VAHAN portal, the company sold 21,308 units of its electric scooters in March 2023, surpassing the 20,000-unit mark for the first time in a single month.
This comes on the back of a recent discount offer that brought down the price of Ola’s flagship S1 Pro e-scooter to Rs 1.25 lakh, making it one of the most affordable electric scooters in the Indian market. While the exact number of S1 e-scooters sold by the company is not known, Ola claims that it has sold over 27,000 units of the S1 range.
The next best performer on the list is TVS, with its iQube e-scooter range selling 15,364 units in March 2023. While there is a significant gap between Ola and TVS, the latter has improved its sales numbers from February 2023 (12,573 units), and its flagship iQube ST is set to launch soon.
Ather Energy, which has been steadily improving its sales figures, registered 12,081 units in March 2023, up from 10,013 units in February 2023. However, the company claims that it sold 11,354 units, and the discrepancy between the official registration numbers and the company’s claims remains unclear.
Ampere, a subsidiary of Greaves, saw a significant jump in its March 2023 numbers, selling 9,336 units compared to the 5,000-odd units it sold in February. The company’s new Primus e-scooter is its first in-house offering and has received positive reviews from users.
Hero Electric sold 6,656 units in March, an improvement from the 5,861 units it sold in February 2023. However, the company’s sales numbers have taken a hit after the government axed its FAME-II subsidy, which supported the purchase of electric two-wheelers.
Okinawa Autotech, another electric two-wheeler manufacturer affected by the FAME-II subsidy removal, sold 4,508 units in March, up from 3,842 units in February 2023.
Bajaj sold 2,342 units of its Chetak electric scooter in March, compared to 1,314 units in February. However, the company’s recent price cuts and range improvements, along with the launch of a new variant, are expected to boost sales in the coming months.
Overall, the Indian electric two-wheeler market continues to grow, with several major players offering affordable and reliable options to consumers. However, the removal of government subsidies has had a significant impact on sales for some manufacturers, highlighting the need for continued government support in the transition to electric vehicles.