Two-Wheeler EV Registrations Surge 34% MoM To Cross 1 Lakh Units Mark In July

Two-Wheeler EV Registrations Surge 34% MoM To Cross 1 Lakh Units Mark In July

SUMMARY

IPO-bound Ola Electric’s registrations rose 13% MoM to 41,597 units , with the startup accounting for 40% of the two-wheeler EV registrations in July

Ather Energy saw a massive 63% MoM jump in vehicle registrations, while TVS Motor also witnessed a 39% MoM rise

The likes of Pure EV, River, electric motorcycle makers Revolt, Oben Electric, and Ultraviolette also saw growth in registration volumes

Total electric two-wheeler monthly registrations crossed the 1 Lakh units mark in July, with IPO-bound Ola Electric alone claiming almost a 40% market share.For instance, Hero MotoCorp-backed Ather Energy, which is also preparing for its IPO, saw a massive 63% MoM jump in vehicle registrations to 10,080 units in July. On a YoY basis, this was almost a 51% jump.Legacy automotive player Bajaj Auto’s EV registrations almost doubled to 17,642 in July this year from 9,043 units in the month before. On a YoY basis, its registrations zoomed 300%.

As per Vahan data as on August 1, two-wheeler EV registrations grew 34% month-on-month (MoM) to 1.07 Lakh units in July. The last time EV registrations surpassed the 1 Lakh units mark was in March this year, the last month of the Centre’s subsidy scheme FAME-II.

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