India’s leading two-wheeler company, Ola Electric has retained its crown as the top electric two-wheeler seller as it delivered 17,641 e-scooter units in February 2023.
However, its registration numbers declined by nearly 4 percent from 18,319 units registered in January.
The Bangalore-based startup had recently expanded its e-scooter portfolio by offering three different trims powered by a 2kWh, 3kWh and 4kWh battery packs for S1 and S1 Air variants.
In a recent blog post, Bhavish Aggarwal, Founder and CEO of Ola Electric, said, “From less than 1 percent penetration in 2021 to almost 6 percent in just a year, the EV revolution in India has not only been restricted to the urban centres but is proving to be a pan-India phenomenon!”
Ola Electric has been leading the sales charts since September 2022 after it introduced affordable e-scooters, and established experience centres across the country.
Despite the complicated situation surrounding the FAME-II schemes, registrations of electric two-wheelers (E2W) went up by nearly 1.7 percent on a month-on-month (MoM) basis to 65,675 units during February 2023, according to the data available on the Ministry of Road Transport & Highways (MoRTH) Vahan portal.
The total number of electric two-wheelers sold last month was almost double the number of units sold during February 2022 at 35,709 units, and just a notch above 64,595 units sold in January 2023., as per Vahan data.
However, the figures are still 15 percent less compared to the highest monthly registrations of 77,094 units in October (festive month) 2022.Among the 100-odd (approximately) electric two-wheeler manufacturers in the country that are registered on the Vahan portal, Ola Electric, TVS Motor and Ather Energy are the top 3 players with a cumulative sales figure of 50 percent of the total vehicle registrations in this category.
Last month, TVS Motor Company dethroned Ather Energy from the second spot in the retail sales rankings as it sold 12,582 e-scooter units. The company’s e-scooter registration went up by over 20% MoM from 10,450 units in January 2023.
The Chennai-based automaker, which also sells petrol-driven motorbikes, revealed that its iQube range of electric scooters recorded its highest-ever monthly sales (dispatches to dealers) of 15,522 units in February 2023 as against 2,238 units in February 2022.
Ather Energy, which occupies the third place on the sales list, delivered 9,966 electric scooters in February 2023.
Hero Electric at the fourth position saw its sales numbers decline 8.5 percent in February to 5,855 units from 6,399 units in January mainly due to the withdrawal of FAME subsidies by the government.
Ampere, which is in the fifth position, sold 5,838 units in February.
Okinawa Autotech, which is selling without FAME-2 subsidies due to compliance issues, witnessed a 12.9 percent MoM decline in its vehicle registrations at 3,840 units in February.
Hero MotoCorp, which delivered 299 Vida V1 electric scooters in Bengaluru, Jaipur and Delhi will start selling its e-scooters in other cities soon.
