Is India’s Crowded Two-Wheeler EV Space on the Verge of Consolidation?
businessbriefs.substack.com
The value migration from two-wheelers (2W) with internal combustion engines(ICE) to two-wheelers that run on electricity has been obvious over the last year. The EV industry sold 231338 EVs in FY22, as opposed to 41046 EVs in FY21. The trend toward the adoption of electric vehicles had accelerated after Covid and continues to receive impetus due to high fossil fuel prices. While sales of ICE two-wheelers are lacklustre, EV sales have grown in leaps and bounds.
Is India’s Crowded Two-Wheeler EV Space on the Verge of Consolidation?
Is India’s Crowded Two-Wheeler EV Space on…
Is India’s Crowded Two-Wheeler EV Space on the Verge of Consolidation?
The value migration from two-wheelers (2W) with internal combustion engines(ICE) to two-wheelers that run on electricity has been obvious over the last year. The EV industry sold 231338 EVs in FY22, as opposed to 41046 EVs in FY21. The trend toward the adoption of electric vehicles had accelerated after Covid and continues to receive impetus due to high fossil fuel prices. While sales of ICE two-wheelers are lacklustre, EV sales have grown in leaps and bounds.