The electric vehicle market has been rising globally and while many auto manufacturers are focusing on EV cars, some Asian markets, like India, are more focused on the two-wheelers or e-scooters.
Now, a new report from Business Standard, citing VAHAN data coming from India’s Ministry of Road Transport and Highways, claims that eight companies that represent 95 percent of the market, have registered 32,680 electric scooters for the month of May 2022.
The numbers represent a decline of 24 percent month-to-month as in the month of April, the companies had registered 43,098 e-scooters. As per the analysts, the drop is because of the sudden rise earlier which indicated an early pent-up desire for such vehicles, which was manifested in large bookings.
The major causes for the drop are believed to be concerns about the safety of such vehicles as there have been reports about electric scooters catching fire. Other reasons include chip shortages and supply difficulties, as well as low demand seasonality.
Ather, one of the early entrants in this sector, witnessed a 26 percent increase in EV registrations in May. A report from Rushlane claims that the company sold 3,787 units in May 2022, 8 units more were sold compared to last month.
Ola Electric, which was the leading brand last month, has lost the pole position to Ather. It reported 8,704 registrations, representing a 31 percent drop compared to the previous month. On the other hand, Okinawa had 8,894 EV registrations, which turns out to be a 19 percent decrease from April. Bajaj Auto and TVS do not post their numbers individually.
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