Top selling electric two wheelers companies sales down not only new product launch but also consumer reduction. So, top electric two wheelers brands are giving discounts on electric vehicles. Recently, Ola Electric announced Rs 12,000 on the Ola S1 Pro, Ather Energy slashes Rs 8000 discounts on its new product and Ampere is giving a discount of Rs 3000 on Ampere Primus.
Manish Raj Singhania, President,Fada, “There was a 6% penetration of electric two wheeler and it came down to 5% in January. This shows there is a big drop in volumes from the smaller startup.”
As per expectation, Vahan Portal predicted, by end of February, the E2W will be sold 6,30,000 units and 7 lakh units will be sold by the end of FY23, where NITI Aayog predicted average 1 million units electric two wheeler sales this year.
Recently, some states like Andhra Pradesh,Delhi, Kerala and Uttar Pradesh have announced their EV policies. But after this sales report they may think of their target. According to the situation, Gujarat and Maharashtra will make their policies.
Another main reason electric two wheelers price hike is battery price increase. About 40% of electric two wheeler price depends on electric battery. Some companies like Ola set up their own battery cell manufacturing plant in India that will reduce battery prices. For a reason, people will buy electric vehicles more and more.
On the other side, recently, the Govt stopped Ola electric scooter subsidies on some electric two wheelers for misuses of a scheme by India market leader Hero Electric, whose subsidy was stopped by the Government last year, April.