Electric Two-Wheeler Sales In India Rise Over 2.5 Times To 846976 Units In FY2023
New Delhi, April 12, 2023: Electric two-wheeler sales in India have risen by over 2.5 times to reach 8,46,976 units in the financial year 2022-23, as per the data released by the Society of Manufacturers of Electric Vehicles (SMEV) on Monday.
In a recent report released by the Society of Manufacturers of Electric Vehicles (SMEV), it has been revealed that the sales of electric two-wheelers in India have risen by more than 2.5 times in the financial year 2022-23, as compared to the previous year.
The surge in sales can be attributed to the growing demand for electric vehicles due to the rising fuel prices and the government’s push towards electric mobility.
The SMEV data shows that the sales of electric two-wheelers in India have increased by 163% in the last fiscal year, compared to 3,21,000 units sold in the previous fiscal year.
According to the SMEV report, the demand for electric two-wheelers has been driven by factors such as lower operating costs, higher mileage, and the convenience of charging at home.
The report also highlights that the availability of more affordable electric two-wheeler models has made it accessible to a larger segment of the population, contributing to the surge in sales.
The report further stated that the increasing awareness about the benefits of electric vehicles, such as cost savings, environmental sustainability, and improved performance, has been a major driver of this growth.
Commenting on the rise in sales, Director General of SMEV, said, “The exponential growth in electric two-wheeler sales is a clear indication of the growing acceptance of electric vehicles in India.
The industry has taken huge strides in terms of technology and affordability, making electric vehicles a viable and attractive option for consumers.”
The SMEV report also states that the top-selling electric two-wheeler models in India are from companies such as Hero Electric, Ather Energy, and TVS Motor Company.
It further predicts that the sales of electric two-wheelers will continue to rise in the coming years, driven by factors such as the government’s FAME II scheme, which provides incentives for the adoption of electric vehicles, and the increasing awareness about the benefits of electric mobility.
With the growing demand for electric vehicles in India, the government is also taking several initiatives to promote the adoption of electric mobility, such as setting up more charging infrastructure, providing incentives for the purchase of electric vehicles, and launching schemes to promote the use of electric vehicles in public transport.
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