The electric two-wheeler segment in India is experiencing rapid growth, with sales reaching new heights. According to Vahan data, in July 2023, a total of 54,292 units of electric scooters and bikes were sold, compared to 46,000 units in June 2023. The sales figures are expected to surpass the 750,000 to 800,000 mark by the end of the calendar year 2023. As of July, the total sales of electric two-wheelers have already exceeded 400,000 units, accounting for 5% of the overall two-wheeler sales in the country.
To meet the increasing demand, manufacturers are gearing up to introduce more new models and expand their dealership networks, along with allocating additional capital expenditure. Over the next 8 to 10 months, the market will witness the launch of at least 20 new electric two-wheelers. Established brands like TVS (with the Creon), Honda (with the Activa), Hero Electric (with the AE 47E), Suzuki (with the Burgman), and Harley-Davidson (with the Live Wire) will be offering new models. Additionally, several electric two-wheeler startups are entering the market, such as Svitch with the CSR 762, Gogoro with the 2 series, Zero with the SR/F, and Liger with the X.
Leading electric two-wheeler companies like Ather and Ola Electric are also planning to introduce new variants of their existing models. Ather Energy has already begun accepting bookings for the 450S electric scooter, which is scheduled to go on sale on 11th August 2023. Priced at Rs 1.3 lakh, the 450S comes with a 3.7kWh battery pack and an electric motor delivering 8.58bhp and 26Nm of torque. The e-scooter promises an IDC claimed range of 115km on a single charge.
Ola Electric is preparing to launch a new electric scooter called the Ola S1X, which will be more affordable than the S1 Air model. The S1X is set to hit the road on 15th August 2023. While product details have not been disclosed yet, the official presentation mentioned that the new S1X scooter will be an ‘ICE killer’, suggesting its potential to disrupt the internal combustion engine market.
