EV sales spike, Ola leads the way

A peek at how major players in the electric two-wheeler market have performed in the last month.

Ola continues to lead the market for the seventh straight month, registering 21,308 units in March 2023 — a significant increase over its figure for the previous month. This is also the first time Ola has breached the 20,000-unit mark in a single month. However, the company claims they sold over 27,000 units of the S1 e-scooter range.

There is a big gap between Ola and the next best performer on the list — TVS iQube e-scooter range. TVS has improved upon its numbers for February 2023 (12,573 units) and its flagship iQube ST is set to go on sale soon. 

Ather Energy keeps building on its monthly sale’s figures, and has bettered its February 2023 sales numbers (10,013 units). While the company claims it sold 11,354 units in March 2023, the VAHAN portal shows 12,081 registrations. 

Ampere, a subsidiary of Greaves, has stepped up its March 2023 numbers from the 5,000-odd units it sold in February this year. Its new Primus e-scooter is its first truly in-house offering.

While Hero Electric bettered its February 2023 numbers (5,861 units), these are nowhere close to the five-digit figures that the erstwhile market leader used to average just a few months ago. With its FAME-II subsidy being axed, the company’s numbers have taken a sharp hit.  

Similar to Hero Electric, Okinawa Autotech also had its FAME-II subsidy revoked, which has led to a decline in sales. The manufacturer managed 4,508 registrations in March, which is up from the 3,842 units it sold in February 2023.

Bajaj sold a total of 2,342 units of its Chetak electric scooter in March 2023, down from its February figure of 1,314 units. The company recently slashed prices, increased the range, and launched a new variant of the Chetak, which should boost the e-scooter’s sales in the coming months. The Chakan-based manufacturer is also in the process of setting up dedicated showrooms for Chetak.