Electric Scooters Surge to 33% of India's Market in September
India's electric scooter registrations hit a record high, with one in three scooters sold now battery-powered.
Electric scooters accounted for 33% of total registrations in September 2023.
TVS Motor Company led the market with over 54,000 units sold.
Government incentives and narrowing price gaps are driving EV adoption.
In a significant milestone for India's electric vehicle sector, electric scooters represented approximately 33% of all scooter registrations in September 2023. This marks a notable increase from 22% in the same month last year, according to data from the Vahan dashboard. The surge in electric scooter adoption reflects a growing consumer preference for sustainable transportation options as manufacturers expand their offerings and compete on pricing.
The total registrations of electric two-wheelers surpassed 2.07 lakh units in September, setting a new record for the segment. This increase is attributed to various factors, including the rising costs of petrol and heightened concerns over fuel security, particularly following geopolitical tensions that have affected crude oil supplies. As the price gap between electric scooters and traditional petrol models narrows, more consumers are considering electric options for their daily commutes.
Among the leading manufacturers, TVS Motor Company topped the electric scooter market with over 54,000 units of its iQube model sold, capturing 26% of the market share. Bajaj Auto followed closely with around 48,500 units of its Chetak model registered. The company plans to ramp up production to meet the growing demand, increasing Chetak output from 42,000 to 62,000 units in October. Other notable players in the market include Ather Energy and Hero MotoCorp, which are also expanding their electric scooter portfolios.
The government's support through initiatives like the PM E-DRIVE scheme has played a crucial role in boosting electric vehicle adoption. This scheme, which offers subsidies of up to Rs 5,000 per vehicle, has been extended until March 31, 2028, further encouraging buyers to switch to electric scooters. The combination of lower running costs, a wider variety of models, and the backing of established manufacturers is making electric scooters increasingly appealing to the average consumer.
Looking ahead, the electric scooter market in India is poised for continued growth as more consumers embrace the benefits of electric mobility. With manufacturers increasing production and government incentives in place, the trend towards electric scooters is expected to gain momentum, potentially reshaping the landscape of the two-wheeler market in the coming years.
