June 14, 2024

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Electrifying Growth: The Surge of Electric Vehicles Sales in Feb’ 23

Electric two wheelers

Electric vehicles (EVs) have been gaining significant popularity in recent years as a more sustainable and environmentally-friendly mode of transportation. With advancements in technology, increasing availability of charging infrastructure, and growing concerns about climate change and air pollution, EVs are becoming more accessible and attractive to consumers. As a result, the sales of electric vehicles have been surging globally, with more and more people choosing EVs, especially electric two wheelers over traditional gasoline-powered cars.

Top EV manufacturers and their sales report in February

The growing demand made the sales of electric two wheelers to reach 65,623 in India this February alone. The top positions were grabbed by Ola Electric, TVS Motor and Ather with Ola securing the highest sales of 17,616 zero-emission two wheelers last month. Followed by Ola, the automobile company TVS Motor has delivered 12,568 EVs, iQube electric scooters, in February 2023, marking its highest ever monthly sales for the firm. Ather has maintained its third position on the sales list, with 9,959 e-scooters delivered in Feb ’23. 

Ola electric scooter
Ola Electric Scooter in India

Other than the top companies, many organisations sold various electric two wheeler models, as people show interest towards battery technology.  The EV manufacturers, Hero Electric and Ampere, have managed to secure the fourth and fifth position, with 5,855 and 5,835 electric two wheelers sold last month. Though Okinawa sold 3,840 zero-emission two wheelers in Feb ’23, its sales declined compared to January 2023 (4,404 sold).

EV Manufacturers Number of Electric Two wheelers sold in India Percentage-wise Variation
Feb’ 23 Jan’ 23
Ola Electric

17616

18212 -3

TVS Motor

12568

10378

21

Ather

9959

9110

9

Hero Electric

5855

6392

-8

Ampere 5835 4366

34

Developing firms and startups

Following the above top six, certain firms with their electric motorcycle models and battery technology acquired better sales, with Chetak, Okaya EV and Bajaj Auto sold more than 1000 e-scooters each in Feb ’23. There are also other EV manufacturing companies which made significant electric two wheeler sales to reduce carbon emissions and promote sustainable transportation. Kinetic Green Energy distributed 815 e-bikes and BGauss Auto delivered 667 e-scooters last month. Meanwhile, sales of Pur Energy and Bounce Infinity crossed 400 each. 

Moreover, Being India Energy, Goreen E-mobility, KLB Komaki, Jitendra New EV-tech made more than 300 sales individually in Feb ’23. This time the automobile giant Hero Motocorp achieved delivering 299 electric two wheelers. Other than all these reputed firms, the Jaipur based new EV manufacturer, BattRE Electric Mobility, sold 129 e-bikes, which is a great kick off for the startup.

Bottom Line

The adoption of Electric vehicles is seen as a crucial step towards reducing carbon emissions and achieving a sustainable future. With the growing demand for electric vehicles, the sales report indicates that there are also significant opportunities for businesses and governments to invest more in and develop the EV market, including battery technology, charging infrastructure, and renewable energy sources.

To find out more watch this video.

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