Electric Two-WHEELER SALES SURPASSES 1 LAKH Units in May, Ola Electric, TVS Motor, Bajaj Auto

Sales of electric two-wheelers have increased rapidly in the last few years in the country. Last month, 1,00,345 units have been sold in this market. This is an increase of about 9.32 percent as compared to April. In April, 91,791 units of electric two-wheelers were sold. Last month, TVS Motor has secured first place in the segment of electric two-wheelers. TVS Motor sold 24,572 units in May. According to data from the Federation of Automobile Dealers Association (FADA), the market share of electric two-wheelers has increased to about 6.1 percent. It was about 5.4 percent in April. Bajaj Auto is second in this market. In May, the company sold 21,812 units. This is an increase of 135.83 percent on a year-on-year basis and 14.79 percent on a month-by-month basis.

Ola Electric’s cells have declined for the last few months. The company has sold 18,501 units in May. This is 50.52 percent decline compared to the same month of the previous year and 6.13 percent compared to April. The company’s loss has increased to about 870 crores in the first quarter of the current year. Ola Electric has also been shocked by South Korea’s automobile companies Hyundai Motor and KIA. With financial difficulties, Hyundai and KIA have sold around 13.6 crore shares in this company, facing regulatory scrutiny.

In the segment of electric two-wheelers, Ather Energy has sold 12,856 units. This is an increase of 108.90 percent on a year-on-year basis. However, the company’s sales have declined by 2.36 percent on a month-by-month basis. Hero Motocorp has performed well in this market. Last month, the company sold 7,165 units. This is a 191.26 percent increase on year-on-year basis and 17.02 percent on a month-by-month basis. Hero MotoCorp has planned to increase its presence in this segment. The company created the VIDA brand for electric two-wheelers. Three models are being sold under this brand. Hero MotoCorp has reported that it will launch two new electric scooters on 1 July.