Electric Two-Wheelers Are Gaining Popularity 🚀
Electric vehicles, especially two-wheelers, are becoming more popular than petrol bikes in India. A recent Crisil report shows that this trend is expected to continue in the financial year 2025-26. The market share of electric two-wheelers is increasing and is set to grow even more.
Significant Growth Expected 📈
The report predicts a volume growth of around 25% for electric two-wheelers this year. In the previous financial year, over 1 million electric two-wheelers were sold, which made up 6% of all two-wheelers in India. This growth is driven by more competition in the electric two-wheeler market, making these vehicles a more attractive option compared to petrol bikes.
More Choices for Consumers 🛵
One of the reasons for this growth is the increasing number of electric models available. Older companies are expanding their distribution networks, making it easier for customers to access electric two-wheelers. The more options people have, the more likely they are to choose electric.
Affordability Is Key 💰
Manufacturers are also making electric bikes more affordable. They are introducing models with smaller battery packs, which reduces the price gap between electric and petrol bikes by 5-10%. Additionally, battery prices have dropped by about 20% in FY 2025, benefiting consumers.
Competition Drives Innovation ⚙️
As competition grows, electric two-wheeler companies are focusing on increasing their market share. This competition is crucial for the industry’s growth. The Crisil report highlights that the electric two-wheeler market is evolving rapidly, and this momentum is likely to continue.
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