Key Points
Starting 1 April, the government has decided to cut subsidies on these vehicles by more than halffrom up to 22,000 per scooter to a maximum of 10,000 per scooter..
Bajaj Auto and TVS Motor Co., the two largest incumbents in the e-two-wheeler market, are yet to announce new pricing under the Electric Mobility Promotion Scheme (EMPS) 2024, which is valid only for four months after April, until the Union Budget under the new government gives way to a fully fleshed-out incentive programme for EVs..
However, while subsidy- and discount-driven lower prices drove sales at a macro level, EV market share was being driven by another key factor, distribution..
The report highlighted that an OEM like Ola Electrics market share rose in relatively low-income markets like Uttar Pradesh and Rajasthan where its distribution network far exceeds its competition..
While Ola emerged as the dominant player in the Indian e-two-wheeler market, capturing nearly 35% of the overall market share during the fiscal year 2023-24, Mints state-wise analysis reveals that Olas dominance was not uniform across all regions..
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