India, increasing presence of EV scooters
The presence of EV scooters is increasing in India. According to monthly statistics released by the Society of Indian Automobile Manufacturers (SIAM), two models, the TVS iQube (15,522 units) and Ather 450X (12,147 units), ranked fifth and seventh respectively in the top 10 scooter sales by vehicle name in February 2023. This is the fourth consecutive month since November 2022 that the iQube, by local motorcycle giant TVS Motor, has been in the top 10. It is also the second consecutive month that the 450X, the flagship model of dedicated EV scooter manufacturer Ather Energy, has entered the top 10, following its sixth position the previous month.
Honda Activa continues to dominate the scooter market, which accounts for around 30% of India’s two-wheelers demand. 174,503 units of Activa were sold in February 2023, giving it a 44.6% share of the scooter market. second-placed TVS Jupiter ( While Activa’s dominance is expected to continue for some time, the launch of new vehicles in the EV segment is very active and the race for market share is expected to become even more crowded. In particular, Ola Electric (not included in SIAM data) is planning to launch the S1 Air in April 2023 with a selling price of R85 000, which would cause a significant change in market share.
Electric two-wheelers may continue to enjoy strong demand after the end of subsidies, if user evaluations are good in terms of quality, safety and cost-effectiveness, due to their excellent maintenance and running costs and advanced digital features. Localisation and price reduction of key electric components such as drive motors, controllers and battery packs, while ensuring quality, is an urgent issue for the Indian electric motorcycle industry. In addition to government policies, the business strategies of existing major OEMs, leading electric two-wheeler manufacturers and suppliers will themselves influence the future direction of the electric two-wheeler industry.
The report provides an outlook of the Indian electric two-wheeler industry in 2035 from various perspectives, including information on electric vehicle policies, electric two-wheeler market trends, OEMs’ electric two-wheeler business as well as major electric two-wheeler manufacturers and electric component manufacturers such as drive motors/controllers/batteries.