Electric Two-Wheeler Sales Report, August 2023
Electric Two-Wheeler Sales Report, August 2023

Electric Two-Wheeler Sales Report, August 2023

Electric two-wheeler sales in India dropped in June after the government cut the FAME II subsidy. However, the market showed indications of recovery in August, with sales increasing by 20% over the same month last year.

In June, the FAME II subsidy was reduced from 40% to 15% of the cost of an electric two-wheeler. This immediately increased the price of electric two-wheelers, dampening demand.

In response, many electric two-wheeler manufacturers released a range of low-cost versions in August. These versions, which cost less than a lakh rupees, have been positively appreciated by the market.

The recent growth of the electric two-wheeler sector signals well for the Indian government’s attempts to promote the use of electric automobiles. The government has set a 30% electric car sales target by 2030.

A number of factors are driving the expansion of the electric two-wheeler industry, including growing fuel costs, government subsidies, and a growing understanding of the environmental benefits of electric vehicles.

The government of India has also announced a number of initiatives to promote the adoption of electric vehicles, such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme and the Production-Linked Incentive (PLI) scheme.

The electric two-wheeler market is expected to continue to grow in the coming years, driven by these factors.

Top Electric Scooter Brands in India by Sales in August 2023

RankCompanyJuly SalesAugust SalesMoM GrowthMarket Share
1Ola Electric19,34318,621-4%30%
2TVS Motor10,38315,36548%25%
3Ather Energy6,6717,0606%11%
4Bajaj Chetak4,1166,53459%10%
5Ampere Vehicles3,5723,6953%6%
6Okinawa Autotech2,2631,998-12%3%
7Okaya EV7851,14846%2%
8BGAUSS AUTO66192239%1%
9Hero Vida Electric990911-8%1%
10Hero Electric7797831%1%

Top Electric Motorcycle Brands in India

RankCompanyJuly SalesAugust SalesMoM GrowthMarket Share
1Revolt Intellicorp Pvt. Ltd.4845126%78.64%
2Tork Motors Pvt. Ltd.669036%13.82%
3Hop Electric Mobility Pvt. Ltd.111536%2.30%
4UltraViolette Automotive Pvt. Ltd.3427-21%4.14%
5Kabira Mobility LLP97-22%1.07%

Top 3 Electric Scooter Companies in August 2023

  1. Ola Electric

In India, Ola Electric is the market leader in the electric scooter industry. The Ola S1 Pro, the company’s premium scooter, is a popular option because of its long-range, stylish look, and advanced features.

  1. TVS Motor

TVS Motor is another popular competitor in India’s electric scooter industry. The iQube scooter from the brand is known for its easy riding, beautiful appearance, and low pricing.

  1. Ather Energy

Ather Energy is a Bengaluru-based company that has gained traction in the electric scooter market. The 450X scooter from the company is noted for its strong performance, raised range, and user-friendly features.

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Hi, I am Yunus, founder of InfoEVs. I am a Blogger and Digital Marketer by profession and a vehicle lover. I like to ride and read, and write about vehicles.


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