Two-wheelers lead the electrification of India’s automobile sector, with approximately 622,000 electric two-wheelers getting sold in CY22. Electric two-wheelers currently register a 5 percent penetration in India’s two-wheeler market, and are likely to see penetration exceed to over 70 percent by 2030.
While subsidies and government incentives have played a crucial role in accelerating the adoption of EVs in the two-wheeler segment, the role of incentives will continue to remain critical until the industry reaches a 25 percent penetration, discuss panellists at the Autocar Professional India EV Conclave, organised in Chennai on November 21.
The panellists unanimously said that subsidies remain to be a vital component to help boost market adoption, especially when affordability is a key factor driving two-wheeler sales in India.
Panellists:
Eric Vas, President, Electric Vehicles, Bajaj Auto
Ravneet Singh Phokela, Chief Business Officer, Ather Energy
Vinay Harne, Advisor – Technology, TVS Motor Company
Sanjay Behl, CEO & ED, Greaves Electric Mobility