Low-speed EVs witnessed negative growth for the first time in the last quarter of 2021. The rise in sales figures was mainly due to an increase in demand for high-speed two-wheelers.
The electric market has witnessed one of the most significant growths in 2021, especially in the two-wheeler segment. Total sales of both high-speed and low-speed scooters have increased by 132% since 2020, which means, there were 2,33,971 units sold in 2021, as against 1,00,736 units the year before.
To be more specific, high-speed electric scooters registered 425% growth, but sales of low-speed scooters have grown by just 24%. Currently, the electric two-wheeler market is divided into three categories - low-speed, city-speed, and high-speed scooters.
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The first refers to scooters that can do maximum speeds of 25 km/h - 35 km/h, followed by city speed which can do 50 km/h. These two types have been popular over the years, mainly due to subsidized prices and the fact you can ride them without a license. High-speed scooters, on the other hand, can do speeds of up to 70 km/hr and more in some cases. Their popularity is on the rise because of swappable high-capacity battery technology, and subsidized pricing, courtesy of FAME II policy.
In fact, the increase in the sales of sales high-speed scooters was largely possible due to the FAME II policy. It helped bring down the prices of some of the entry-level high-speed scooters to such an extent, that in some cases they are cheaper than some low-speed scooters as well.
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We havent seen better days than the last few months in the entire EV journey. In the last 15 years, we collectively sold around 1 million e2w, e-three wheelers, e-cars, and e-buses, and we will most likely sell the same 1 million units in just one year beginning January 22, said, Sohinder Gill, Director General Society of Manufacturers of Electric Vehicles (SMEV).
She further acknowledged how subsidized prices have encouraged sales growth. The recent positive changes in EV policy through FAME 2 are a game-changer. Going by the recent monthly trends, the next 12 months may see 5 to 6 times the growth over the previous 12 months, Gill added.
There are no e-scooters like the ones seen in North America or Europe on which a rider can stand and go short distances. Electric cycle sales in India (popularly known as e-bikes globally) are also negligible and just beginning to happen. However, in the next 2 to 3 years, we will have products across all segments, ranging from e-scooters, e-motorcycles, and e-cycles from large and organized players, Gill further added.
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