The Federation of Automobile Dealers Associations (FADA) has released market share data for June 2022. While ICE giants are of course at the forefront, demand for electric two-wheeler brands has also increased. Take a closer look at the top five players in the electric two-wheeler space here as:
Premium EV brands such as Ola Electric and Ather Energy are preferred by Okinawa, Ampere and Hero Electric by a wide margin. However, this is predictable, given that the top three players have products that are more affordable than the Ola S1 Pro or Ather 450X.
Also, these premium e-scooter brands, which cater to the B2C market, are limited to just one product, while Okinawa, Ampere and Hero Electric have several options, including B2B and low-speed e-scooters, to help them gain a wider customer base.
But, the success of this brand is not just the product lineup. Inflation is a major factor in the selection of affordable electric bikes. However, in recent times all companies have grown rapidly.
Okinawa has seen a six-fold increase in YoY, while Ather Energy has seen sales increase by 1,093.73 percent. However, Ether’s growth can also be credited to its rapid expansion plan.
Notably, these EV manufacturers are now also competing with ICE players. In fact, brands like Piaggio (Vespa and Aprilia) and Classic Legends (Java and Yezdi) are now behind these five EV companies.