India’s electric two-wheeler market is experiencing a remarkable surge, with projections indicating that battery-powered models could constitute 20% of total two-wheeler sales within the next five years—a threefold increase from current figures.
Current Landscape and Growth Trajectory
In 2024, electric two-wheelers accounted for 6.1% of the market, with over one million units sold. This upward trend is expected to continue, driven by increasing consumer interest and supportive government policies.
Manufacturer Initiatives and Future Outlook
Leading manufacturers are actively contributing to this growth:
-
Hero MotoCorp: Plans to launch an affordable electric scooter in the upcoming quarter.
-
Honda Motorcycle & Scooter India (HMSI): Anticipates the share of scooters in overall two-wheeler sales to rise to 40% by 2030, up from 34% in 2024.
-
TVS Motor Company: As the largest legacy EV maker, TVS is preparing multiple electric vehicle launches to cater to the evolving market.
These strategic initiatives by major manufacturers underscore a collective effort to accelerate the adoption of electric mobility in India.
Conclusion
The Indian electric two-wheeler market is on a fast track to substantial growth. With industry leaders investing in new models and infrastructure, the anticipated tripling of market share within five years highlights a significant shift towards sustainable transportation solutions.
