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In India, the prices of petrol are rising every day. Air pollution is also increasing in the cities. The government is also putting efforts towards the fast acceptance of electric vehicles in the country. That’s why the Government has enforced the FAME-II subsidy structure for electric vehicles in the country and is planning to install as many public charging stations as possible through the next decade as the number of electric vehicles is increasing. According to research electric vehicle Sales to Grow From 3.7 Million To 17 Million Per Year By 2030.
In the high-speed two-wheeler market, from September 2019 to April 2019, the sale of hero electric was 2629. Their market share was 35%. After that Okinawa Autotech sale was 1,836. Ather energy sold 942 units, and their market share was 12%. The total sale of the Ampere scooter was 919 units. The total market share of Revolt intellect was 8%.
High-speed electric bikes sale:
According to the data of manufacturers, the registrations of high-speed electric two-wheelers were 2,544 units, and cumulative sale in January year 2019 was 52,959 units. They gave the subsidy to only 31,813 vehicles under the FAME II scheme. In the year 2020, the high-speed electric two-wheeler sales were 25,735 units, and 27,224 units sold in 2019.
The target of the Delhi government for 2024 is to run 500000 electric vehicles on the road. For this, the Delhi government is going to offer vehicle scrappage benefits to their customers. In addition, the extension of the PMP guidelines would allow the industry to ramp-up production and strengthen the local component market. The automobile industry dominated by new entrants in the market. The different manufacturers and dealers are there like Electrotherm, Hero Electric Vehicles, Ampere Vehicles, NDS Eco Motors, Ather Energy Private Limited, Avon Cycles, Lohia Auto Private Limited, Okinawa Autotech, Tork Motors, Tunwal E-Bike India Private Limited. The industry has already set up their operations with modern infrastructure, advanced technologies and in-house charging facilities. There are also well-established manufacturers of conventional two-wheelers.
As per the industry reports, E-Bike Sales will grow from 3.7 Million to 17 Million per year By 2030.
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