Ola electric maintains dominance in EV sales chart as competitors face challenges: Report
In the rapidly growing electric two-wheeler market, Ola Electric continues to hold a strong position, leading the industry for the eighth consecutive month. During April 2023, Ola Electric registered sales of 21,916 units, demonstrating a slight increase compared to the previous month. Although the exact number of units sold from their S1 e-scooter range remains undisclosed, Ola Electric claims to have sold over 30,000 units.
Ampere, on the other hand, experienced a decline in sales, selling 8,322 units in April 2023, down from the 9,336 units sold in March 2023. Ampere’s newly introduced Primus e-scooter, their first in-house offering, aims to boost their market presence.
Ather Energy also witnessed a decrease in sales, reporting 7,770 units sold in April 2023 compared to 12,081 units in March 2023. However, Ather Energy stated that they sold 8,182 units in April, considering the figures from the VAHAN portal, which include registrations.
TVS faced a significant drop in sales of its iQube model, attributing the decline to supply chain challenges. The company expressed confidence in recovering its previous five-digit sales figures in the upcoming months.
Bajaj’s EV subsidiary, Chetak Technology Limited, observed a substantial increase in registrations, reaching over 4,000 units in April 2023. This surge can be attributed to the recent price reduction, increased range, and the launch of a new Chetak variant. To further bolster sales, Chetak Technology Limited is in the process of establishing dedicated showrooms.
Hero Electric faced a sharp decline in sales, managing to sell only 3,332 units in April 2023. The discontinuation of the FAME-II subsidy for the company has impacted their numbers significantly.
Similarly, Okinawa Autotech experienced a drop in sales following the revocation of their FAME-II subsidy, recording 3,217 registrations in April compared to 4,508 in March.
As the competition intensifies in the electric two-wheeler market, Ola Electric’s continued dominance showcases their strong market position. Meanwhile, other manufacturers face challenges, such as subsidy-related issues and supply chain disruptions, impacting their sales performance.