Key Points
New Delhi [India], September 15 (ANI): The adoption of electric two-wheeler vehicles in India is on a gradual rise and it is expected that their share will rise to upwards of 13 per cent by 2026-27, investment banking company Jefferies asserted in a report...
Share of EVs in two-wheeler sales rose from just 0.4 per cent in 2020-21 to 5.4 per cent by early 2023, led by rising subsidies and new launches...
However, Jefferies claimed that a subsequent reduction in incentives has resulted in the share remaining in the 4-7 per cent range for most of the past 24 months, despite the introduction of lower-priced vehicles by manufacturers...
We currently assume share of E2Ws rising from 5 per cent (0.9mn units) in FY24 to 7 per cent/10 per cent/13 per cent (1.4mn/2.3mn/3.4mn units) in FY25E/FY26E/FY27E, although we now see a downside risk to these estimates in the context of the new scheme targeting just 2.5mn E2Ws over two years, Jefferies said in its report released earlier this week...
Ola Electric, which has recently become a publicly listed company, has emerged as the dominant manufacturer in Indias electric two-wheelers market, said Jefferies, noting that its market share rose from 21 per cent in 2022-23 to 35 per cent in 2023-24 and further to 49 per cent in 1Q-2024-25...
