Ola Electric Clinches 25% Share As 2-Wheeler EV Registrations Cross 85K Mark In March

Ola Electric Clinches 25% Share As 2-Wheeler EV Registrations Cross 85K Mark In March

SUMMARY

Total two-wheeler EV registrations grew almost 30% month-on-month to 85,683 units in March

Ola Electric’s two-wheeler EV registrations rose 20% to 21,220 units in March, while TVS Motor was at the second spot with 16,731 units

Ather Energy’s vehicle registrations surpassed the 10,000 mark for the first time in March this year and stood at 12,067 units

Electric two-wheeler registrations surged sharply in March, after months of slump amid the ongoing controversy around the government’s FAME-II scheme, crossing the 85,000 mark for the first time.However, it was Ola Electric which once again emerged as the winner, with nearly 25% share in two-wheeler EV registrations in March. Despite the criticism on social media about its poor after-sales service and concerns over vehicle reliability, the Bhavish Aggarwal-led startup’s registrations rose 20% to 21,220 units in March from 17,716 units in February.Bengaluru-based Ather Energy’s vehicle registrations surpassed the 10,000 mark for the first time in March this year. Its vehicle registrations grew to 12,067 units in March from 10,069 units in February and 9,230 in January.Electric two-wheelers contributed a little over 6% to the total two-wheeler registrations in the country. A recent Redseer report projected that the electric two-wheeler penetration in the country will grow to 60%-80% of the total two-wheeler market by 2030.

With Ola Electric continuing to lead the race, followed by TVS Motor, total two-wheeler EV registrations grew almost 30% month-on-month (MoM) to 85,683 units last month, as per Vahan data (as on April 1).

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