More and more cities and states are offering incentives for the purchase of electric vehicles, having begun to realize the benefits of doing so. These financial benefits are influencing people to switch from gas vehicles to electric ones, as well as from gasoline scooters to electric scooters.
Local and state governments can continue to offer these incentives without fear of depleting their offers, as the money that they save from the elimination of government fuel subsidies will be sufficient to maintain any new incentives.
Overview Currently, the sales of electric scooters and motorcycles are stalling a bit with a difference of only 10.3%. However, we anticipate that by 2022 sales of electric scooters and motorcycles will increase. This is going to be propelled by their growing popularity as well as environmental concerns in some countries.
India is a country where electric vehicles (EVs) are becoming popular. With the government pushing for more electric vehicles and supporting infrastructure, it is expected that EV sales will grow rapidly in the coming years.
India has a population of 1.3 billion people who are growing fast. The Indian government has launched several initiatives to reduce pollution and promote clean energy. In order to support these efforts, it has also announced that it wants to increase the share of electric vehicles on India’s roads from today’s 0.4% to 2% by 2030.
This means that there will be about 1 million EVs on Indian roads by 2030 which is estimated to be worth $75 billion in sales value across India alone!
The Indian electric two wheeler market noted a significant 286% year-over-year increase in October, mostly due increased public awareness and incredible choice for consumers in all segments.
For the calendar year (January – October)
New Electric two wheelers registrations accounted for about 4.01% of the total new two wheeler registrations in India. Totally about 11,775,331 two wheelers ware registered out of which 4,72,682 units ware Electric.
For the month of October, 76,581 new electric scooters and motorcycles were registered in India as per data available from the Vahan portal.
October saw a huge surge in sales of electric two wheelers as the industry witnessed a growth of 150% over October last year.
Top selling OEM in October was Ola Electric who sold 16,170 units. A huge increase compared to 9634 units in September. With the launch of the S1 model at a lower price point, we anticipate further growth in the coming months.
The second best performing OEM in October was Okinawa with 14,921 units followed by Hero Electric who sold 8,860 units.
TVS Motors registered an increase, by selling 5,765 units in October compared to 3,940 units in September 2022.
Ather Energy registered a slight increase in October with sale of 7,288 units compared to September. We presume that their July sales had dipped due to the rollout of their new Gen-3 450X model. However, they have more than made up for that dip in September and October.
Hero Electric have stagnated sales in October with 8,860 units.

Top Results last month
OLA ELECTRIC | 16,170 |
OKINAWA AUTOTECH | 14,921 |
AMPERE VEHICLES | 10,053 |
HERO ELECTRIC | 8,860 |
ATHER ENERGY | 7,288 |
TVS MOTOR | 5,765 |
BAJAJ AUTO | 3,435 |
OKAYA EV PVT LTD | 1,961 |
REVOLT | 1,031 |
OTHERS | 7,097 |
Top EV two wheeler EV brands market share for October
OLA ELECTRIC | 21% |
OKINAWA AUTOTECH | 19.5% |
AMPERE VEHICLES | 13.1% |
HERO ELECTRIC | 11.6% |
ATHER ENERGY | 9.5% |
Top 10 Results this calendar year
OKINAWA AUTOTECH | 87,312 |
HERO ELECTRIC | 80,699 |
OLA ELECTRIC | 75,407 |
AMPERE VEHICLES | 63,176 |
ATHER ENERGY | 36,195 |
TVS MOTOR | 29,309 |
BAJAJ AUTO LTD | 18,796 |
REVOLT INTELLICORP PVT LTD | 14,339 |
PUR ENERGY PVT LTD | 13,244 |
BENLING INDIA ENERGY AND TECHNOLOGY PVT LTD | 10,417 |