electric two wheeler market share in india


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  • Who dominated the electric two-wheeler market in India in 2023?

    Ola Electric dominated the electric two-wheeler market in India, with a share of 21 percent in financial year 2023. This was followed by Okinawa and Hero, having a share of 13 percent and 12 percent, respectively. Get notified via email when this statistic is updated. India's financial year begins in April and ends in March.

  • How many 3 wheelers were sold in India in fy21-22?

    During FY 21-22 – 3,84,215 units of 3 Wheelers were sold in India, including Cargo and Passenger categories. – Electric powertrain dominates the market with 47% market share and 1,79,725 units sold during FY21-22. In FY 20-21, electric powertrain had a 39% market share.

  • Is India's electric vehicle market at an inflection point?

    India’s electric vehicle (EV) market is at an inflection point. EVs accounted for about 5% of total vehicle sales between October 2022 and September 2023—and could reach more than 40% penetration by 2030 (see Figure 1), driven by strong adoption (45%+) in both two-wheeler (2W) and three-wheeler (3W) categories.

  • How big is the electric 3 wheeler market in India?

    The electric 3 Wheeler market in India is highly fragmented and has approximately 300 OEMs for the L3 category and 67 OEMs for the L5 category, as seen on the Vahan portal. – The top 10 OEM manufacturers in the L3 category contribute only 43% of the total sales, whereas the top 6 OEMs in the L5 category contribute 78% market share.

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