The automotive electric 2-wheelers (E2W) market grew by more than 300 percent (year-on-year) in CY2022, a report has said. By 2025, the share of E2Ws and connected 2-wheelers (C2W) will both cross 50 percent.
The share of C2Ws grew over 20 percent YoY last year, and the high-speed electric vehicles market grew 90 percent, according to CyberMedia Research (CMR)’s ‘India Electric 2 Wheelers (E2W) Report’.
“In CY2022, there has been a growing momentum towards electric mobility with connected features. The supply side trends point to support this market momentum, with the automotive E2W market growing at a CAGR of 171 per cent,” said John Martin, senior analyst, smart mobility practice, CMR.
The touchscreen technology market in two-wheelers accounted for around 1 percent of the overall 2-wheeler market.
The touchscreen technology has expanded in the premium E2W segment (Rs 1,00,000 price segment) through Ather 450x, Hero Vida, Ola S1 Pro, and TVS iQube ST e-scooters, with an average screen size of 7 inches.
Ola Electric led the Indian E2W market in CY2022 with around 18 percent share, followed by Okinawa Autotech with 17 percent and Hero Electric with 16 percent share, said the report.
Hero Electric grew around 109 percent during CY 2022. Optima CX was the most in-demand model from Hero Electric.
Ampere Energy grew around 538 percent YoY. Ather Energy grew 222 percent YoY growth in CY2022.
“Driven by the recent Union Budget announcement, we foresee a strong uptick in India’s PLI-linked investments for lithium-ion battery manufacturing. This will spur further domestic value addition over the next four years,” said Martin.
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