electric two-wheeler industry is showing signs of revival. According to the
Society of Manufacturers of Electric Vehicles (SMEV), in September 2020, sales
of High-Speed Electric two-wheelers (HS E2W) have increased by 72% on YoY
basis. The registration stood at 2544 units in September 2020, as against 1473
vehicles sold in the corresponding month of the last year.
The data doesn’t
include low-speed segment
The above data has been collated from the Govt records
OEM wise Market Share Data from April’20 to
September’20 as retrieved from VAHAN
Market Share (%), April-Sep'20
HERO ELECTRIC VEHICLES PVT. LTD
OKINAWA AUTOTECH PVT LTD
ATHER ENERGY PVT LTD
AMPERE VEHICLES PRIVATE LIMITED
REVOLT INTELLICORP PVT LTD
JITENDRA NEW EV-TECH PVT. LTD
NDS ECO MOTORS PVT LTD
are experiencing huge customers’ interest in greener vehicles as they have seen
how the environment looks like when no fuel-guzzling vehicles are running on
roads. The upcoming festive season will add to the pent up demand and help OEMs
to recover what they lost in the quarter 1 and 2 due to Covid lockdown,” said Sohinder
Gill, Director General, SMEV.
first six month of the Financial Year 21 have been a roller coaster ride for
the EV industry. The financial year started with an uncertainty due to Covid19
which led to lockdown in the country. Between the period of April’20 and
September’20, the industry registered sales of 7552 HS E2W as against 10161 HS
E2W sold in the corresponding months of the last FY.
of the main reasons of the stagnant sales is attributed to customers not able
to buy products due to COVID 19, which led to lockdown in the country. However,
the industry has been quickly able to enter the positive curve soon after the
government announced the unlock process,” he said.
there have been many positive news on the EV policy front from the central and
state governments that has led to a higher confidence amongst OEMs, Component
suppliers and investors. We look forward to a big push by the government to set
right what went wrong with FAME 2 so as to assist generation of demand which is
already showing some green shoots. Some of the measures that could be adopted
are removal of the 'range criteria' from two wheelers for subsidy, reduction of
GST on batteries from 18 % to 5% when sold separately, mandating delivery
businesses to convert their fleets to EVs, promote electric mobility under
‘Swatchh Bharat Campaign’ added Gill.
outlook for the FY remains positive as we hope that the recent move by the
central government allowing vehicle to be sold without battery and the announcement
of EV policy by Delhi government would further help the industry to move
forward. Also, extending the PMP guidelines would allow industry to ramp-up
production and strengthen local component market.
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