Electric Two Wheeler Sales Feb 2022

Total electric two wheeler sales dominated by scooters have reached a positive new high in February 2022

In recent years, policies supporting adoption of electric vehicles have been at the fore. Even more recently, folks have been constantly pushed to a corner with rising fuel costs. Especially petrol, given the sheer number of two-wheelers that ply on Indian roads. Given the reality, and improved discussions around electric two-wheelers, this space has seen exponential growth.

Electric Two Wheeler Sales Feb 2022 – Hero Electric Leads

In February 2022, Hero Electric yet again led from the top. Sales are reported at 7,357 units, up from 2,194 units YoY. MoM numbers were a bit lower from the 7,764 units reported sold in Jan ’22. Okinawa reports sales at just below 6k units, up from just over a thousand units sold a year earlier. MoM growth stood at 5 percent, up from 5,619 units. Ampere sold 4.3k units, up from about 800 units. In January sales were similar at 4,220 units.

The new kid on the block, Ola Electric reports 3.9k units sold. In January 2022, this number stood at 1,102 units. This is even higher than Ather Energy which reported sales of 2,230 units. YoY sales are up from 626 units. In January ’22 sales were reported at just below 1.9k units.

TVS Motor reported sales at just under 1.5k units, up from 208 units in Feb ’21. MoM sales growth is at a third, up from 1,111 units. Pur Energy reported sales at 1,427 units, up from 408 units sold in Feb ’21. MoM sales fell from almost 1.7k units.

Bajaj Auto reports Chetak sales at just over 1.3k units, having grown YoY from 111 units. MoM growth is considerable, up from 611 units. Being India Energy reports sales at 1,149 units, up from 256 units. MoM growth is reported at 8 percent, up from 1,062 units.

While most electric 2W manufacturers currently offer select electric scooters, Revolt only sells motorcycles putting it in a segment of its own within the E2W space. Sales are reported at just over 1.1k units, up from a mere 70 units a year earlier. MoM growth is high with sales up from 611 units.

Ola Electric Deliveries Feb 2022

Ola’s CEO has stated that their delivery now is a lot higher than that reported on the VAHAN portal. As per Ola, their delivery in Feb 2022 was close to 7k units and in March, they are getting ready to deliver about 15k units. If that happens, they will become the No 1 electric two wheeler in the country.

A range of other, most fairly new companies have reported sales at below 500 units. Jitendra New EV Tech sold 562 units. GoGreen E-Mobility reported sales at 425 units. Komaki’s sales are up at 240 units. And there’s a whole lot of companies that have sold way less than even 100 units each last month. In all, total sales surpassed the 32k mark. A year earlier this number stood at around 6k units. The list in question is missing names but this is only natural considering the unorganised nature of the E2W space at present.

While the tail-end doesn’t yet paint a rosy sales picture, it does point to opportunities in the electric two-wheeler space. A while earlier, it was unforeseen that the sheer number of companies keen to enter the E2W segment would be so many. Even more encouraging is the fact that there will be even more new entrants. While all projections point to growth, eventually when growth plateaus, this largely competitive space creates new market leaders.