Electric Two-Wheeler Segment Reports Triple-Digit Growth In 2021

Electric two-wheelers seems to be the fastest growing segment in the EV space in our market and the growth trajectory has continued even in 2021. Sales of total electric two-wheelers went up by 132 per cent in 2021 selling 2,33,971 units as compared to 1,00,736 units sold in 2020. In fact, it's the high-speed electric two-wheelers that have been the major growth driver last year. Unlike low-speed electric two-wheelers, which do not need to be registered, high-speed electric scooters, with top speed of more than 25 kmph, are the registered electric two-wheelers.

At 1,42,829 units, registered electric two-wheelers recorded a massive growth of 425 per cent, and accounted for a good 61 per cent of overall volumes. Only 27,206 units of registered electric two wheelers were sold a year ago and they accounted for just 27 per cent of overall volumes in 2020. Coming to non-registered or low-speed electric two-wheelers, where speed is limited to 25 kmph, the segment recorded 24 per cent growth last year, selling 91,142 units as compared to 73,529 units sold in 2020.

Okinawa was the second bestselling electric two-wheeler brand in 2021.

Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV) said, "We haven't seen better days than the last few months in the entire EV journey. In the last 15 years, we collectively sold around 1 million e2w, e-three wheelers, e-cars, and e-buses, and we will most likely sell the same 1 million units in just one year beginning January 2022. The recent positive changes in EV policy through FAME 2 are a game-changer and a decisive move by the government to ensure a cleaner and greener transportation sector, reducing reliance on expensive and contaminated liquid fuel. Customers have now started shifting in large numbers from petrol two-wheelers to electric ones due to attractive prices, lower running costs, and lower maintenance. A significant percentage of customers also factor in the environment and sustainability in their decision to buy an electric two-wheeler. Going by the recent monthly trends, the next 12 months may see 5 to 6 times the growth over the previous 12 months."

Ather Energy was the third bestselling electric two-wheeler brand in 2021.

The growth in the electric two-wheeler segment is also attributed to a low base in 2020 given the lockdown to prevent the spread of COVID-19. In 2021, Hero Electric stood out to be the highest selling electric two-wheeler brand with 46,214 units followed by Okinanwa at 29,868 units and Ather at 15,836 units.