The Indian Electric Vehicle Market was valued at USD 5 billion in 2020, and it is expected to reach USD 47 billion by 2026, registering a CAGR of above 44% during the forecast period (2021–2026).
Top Electric Two-Wheeler Companies by Their Market Share
As per a report in the Economic Times, EV sales have sky-rocketed by three times in the first half of the ongoing fiscal. More than 1.18 lakh EV units were sold in H1 FY22. This comprises 58,264 electric 2-wheelers as well as 59,808 three-wheelers.
The list of top electric two-wheeler companies includes Hero Electric (36%), Okinawa (17%), Ampere (14%), Ather ( 11%), etc.