Electrical scooter and bike gross sales in India surged 85 % yr on yr (YoY) to 1,39,000 items in October, and mainstream manufacturers reminiscent of TVS, Bajaj Auto and Hero MotoCorp, with mixed gross sales of 65,489, offered 4,428 extra EVs than the opposite. prime electrical two-wheeler startup manufacturers.
- TVS, Bajaj, Hero EV gross sales crosses 65,000 mark in October
- Prime 10 e2W makers had a mixed 44 % market share
Legacy manufacturers registered their best-ever month-to-month retail gross sales in October. TVS Motor Co offered 29,930 iQube scooters, regaining its lead over a hard-charging Bajaj Auto (it retailed 28,245 Chetak items), which had outsold TVS in September. Hero MotoCorp offered 7,314 Vida e-scooters. Collectively, these three firms clocked 65,489 items in gross sales. Then again, India’s prime 10 e-two-wheeler startups managed 61,061 items.
| 2W EV gross sales in October 2024 | |||
|---|---|---|---|
| Legacy OEMs | EVs offered | e2W Begin-ups | EVs offered |
| TVS | 29,930 | hail | 41,664 |
| Bajaj | 28,245 | ather | 16,000 |
| hero | 7,314 | bounce | 1,006 |
| TOTAL | 65,489 | Revolt | 949 |
| , | , | river | 365 |
| , | , | pure | 334 |
| , | , | easy | 324 |
| , | , | Okinawa | 232 |
| , | , | Oben | 139 |
| , | , | Ultraviolette | 48 |
| , | , | TOTAL | 61,061 |
Of the overall e-two-wheelers offered in October, TVS (21 % market share), Bajaj Auto (20 %), and Hero MotoCorp (5 %) grabbed 47 % of the market, whereas the highest 10 e2W OEMs had 44 % . The remaining 9 % was being fought for by the remainder of the sphere – 196 gamers. In October, Vahan retail gross sales information mirrored all 209 e-wheeler producers in India.
Ola Electrical, which had a torrid August and September, stays the No. 1 e2W OEM. It bounced again with 41,664 items in October, its third-highest month-to-month rating after the 53,640 items in March and 41,794 items in July. With a 30 % market share, the corporate accounts for the majority of the highest 10 startups’ gross sales. Bengaluru-based Ather Vitality, which clocked its best-ever month-to-month retail gross sales of 16,000 items in October, has an 11.50 % market share. The remaining eight startups – Bounce, Revolt Motors, River Mobility, Pur Vitality, Easy Vitality, Okinawa Autotech and Oben Electrical – account for 3,397 items and a 5.56 % market share. Revolt Motors (949 e-motorcycles) and Easy Vitality (324 e-scooters) each registered their best-ever month-to-month gross sales.
Not very way back, it was felt that EV startups, with their perceived absence of legacy points, IT expertise prowess, enterprise capital investments and the power to burn money to get a foothold out there, would stamp their dominance on this phase of zero. -emission mobility. Nonetheless, TVS, Bajaj and Hero MotoCorp, the three legacy ICE OEMs which have diversified and plugged into e-mobility, are proving to be a resilient lot and giving the two-wheeler startup world a run for its cash and extra.
These three, with their robust R&D setup and part provider base, are clearly benefiting from their rising localization ranges, the introduction of latest variants, model energy and the advertising and marketing power that comes from a big supplier community throughout the nation.
Additionally see:
Hero Xpulse 421 idea sketch showcased at EICMA 2024
Hero to enter Europe, UK with Vida Z electrical scooter
New TVS electrical two-wheeler launch by March 2025
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Kanishk Singh has always had a keen interest in fast-paced cars. For the past three years, he has been writing about automobiles, but his fascination with cars dates back even further. He thoroughly enjoys learning about their features and expressing his thoughts through his writing. Kanishk also has a profound interest in the stock market, shares, and business strategies. He possesses a wealth of knowledge on these subjects and consistently writes articles on them. Currently, he is working as a writer for Lattestnews24, specifically focusing on the Automobile, Finance, and Business categories. His well-crafted words are highly appreciated by the readers, as they find them both informative and creative.