Despite the ongoing problems with the FAME-II scheme, the total number of two-wheeler EV registrations increased slightly in February, with Ola Electric, TVS Motors, and Ather Energy leading the pack.
According to Vahan data, registrations in the two-wheeler EV category increased 1.6% month on month (MoM) to 65,623 units last month (as of March 1, 2023). The increase in two-wheeler EV registrations is about 15% lower than the highest monthly registrations of 77,094 units in October of last year.
Ola Electric, TVS Motor, and Ather Energy currently account for nearly half of the total vehicle registrations in this category among the 97 two-wheeler EV companies registered on Vahan.
It is worth noting that, while the overall number has increased MoM, the situation for most original equipment manufacturers has been quite the opposite (OEMs). Following five months of continuous growth in vehicle registrations, Ola Electric’s registration numbers fell to 17,616 units in February, a 3.8% decrease from the 18,313 escooters registered in January.
Despite a flood of customer complaints on social media platforms and several safety concerns raised by customers, demand for Ola Electric’s escooters has been heading north since September last year, when the startup launched a more affordable two-wheeler EV model and began opening experience centres across the country.
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