New Delhi, 2 December(HS): The electric two-wheeler industry in India saw an impressive 29 per cent growth in sales in November, with a total of 118,924 units sold. This brought the cumulative sales for the first 11 months of the year to 1.07 million units, making it the third best month for the industry after October and March. These sales accounted for a significant 62 per cent share of total EV sales which stood at 191,513 units, showing a 24 per cent year-on-year increase. Overall, the Indian EV industry accounted for 6 per cent of total automobile retail sales, with e2W sales making up 60 per cent of that.
In terms of market share, Ola Electric saw a slight drop in November compared to other major players like TVS Motor, Bajaj Auto, Ather Energy, Hero MotoCorp, and Revolt Motors. Bajaj Auto saw a remarkable 121 per cent year-on-year increase in sales, while Ather Energy saw a 36 per cent growth.
Hero MotoCorp had its second highest monthly sales this year and Revolt Motors saw an impressive jump of almost 200 per cent. These numbers reflect the growing demand for electric two-wheelers in India and the success of companies in this sector.
With more electric models being launched and an expanding network for charging and servicing, it is expected that this positive trend will continue in the coming months and years.
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Hindusthan Samachar / JUN