Revealed On Dec 12, 2021 07:00:00 AM
This constitutes a powerful 355 p.c year-on-year improve.
Gross sales of electrical two-wheelers, the low-hanging fruit of the EV trade in India, together with the three-wheeler phase, are on a roll. Autocar Skilled’s evaluation of the high-speed e-two-wheeler trade’s gross sales for the primary 11 months of this Calendar 12 months (CY) reveals that gross sales have surpassed the 1,00,000-unit mark for the primary time.
355 p.c year-on-year improve
The highest three gamers are Hero Electrical, Okinawa and Ather
Complete gross sales from 25 EV OEMs (as solely detailed within the accompanying knowledge desk beneath) are 1,16,669 items. This constitutes a 355 p.c year-on-year improve (CY2020: 25,598 items), albeit on a low-year complete and a pandemic-impacted yr. Given the month-to-month common gross sales of 18,948 items for the September-November interval, complete trade gross sales for CY2021 needs to be within the area of 1,35,000 items.
Hero Electrical maintains management place
Market chief Hero Electrical, which offered a file 7,102 items in November – its highest month-to-month tally but – has chalked up complete gross sales of 40,318 items between January and November. Do the maths, and it really works out to three,665 items a month, or 120 Hero e-scooters offered every day of the yr until November. What’s extra, its 11-month gross sales are a near-400 p.c YoY improve (CY2020: 8,111 items).
This efficiency offers the corporate a market-leading share of 34.56 p.c, due to its variety of fashions on provide, together with the favored Optima, Photon and Nyx throughout various price-points. Its sizable and increasing gross sales community can be serving to the corporate stamp its presence – over 700 gross sales and repair retailers throughout the nation – together with a widespread charging community and EV-trained roadside mechanics. Additionally it is investing in increasing the EV charging community. Final month, it partnered with Charzer, a Bangalore-based EV charging start-up, to arrange 1,00,000 charging stations in a yr, additional standardising electrical automobile infrastructure between producers.
Okinawa stays plugged in at No. 2, Ather unseats Ampere
Sustaining its CY2020 rating of India’s second greatest e-two-wheeler OEM is Okinawa Autotech – with gross sales of 23,899 items from January-November, clocking a 329 p.c YoY progress (CY2020: 5,564). This offers it a market share of 20.48 p.c. The corporate is averaging month-to-month gross sales of 4,257 items and clocked its month-to-month greatest numbers in November: 5,421 items.
To future-proof itself when it comes to manufacturing capability, Okinawa is investing between Rs 200 crore-250 crore in a brand new plant at Bhiwadi, Rajasthan. The corporate goals to realize 100 p.c localisation by subsequent monetary yr finish (FY2022) and in addition plans to introduce an e-motorcycle.
Quick-growing Bangalore-based start-up Ather Vitality has taken the third place within the Prime 25 EV OEM record, unseating Ampere Autos. The sensible e-scooter maker has offered 14,152 items within the first 11 months of this yr. Regardless of having simply two fashions on provide – Ather 450X and 450 Plus – the corporate has seen a sensible uptick in demand. Along with investing in its fast-charging community, Ather Grid 2.0, the OEM can be engaged on a sub-Rs 1,00,000 reasonably priced e-scooter, which is anticipated to usher in extra numbers.
The highest three gamers – Hero Electrical, Okinawa and Ather – have collectively offered 78,369 items, accounting for 67 p.c of the overall gross sales. They’re additionally the one ones amongst 25 OEMs to cross the 10,000-unit gross sales mark.
Pure EV jumps three ranks to be No. 4
IIT-Hyderabad incubated Pure EV and Greaves Cotton-owned Ampere Autos are at fourth and fifth rank, clocking gross sales of 9,363 items and 9,155 items, respectively. Pure EV’s efficiency is noteworthy, provided that it has jumped three ranks, transferring up from seventh place in CY2020.
Ranked sixth is TVS Motor Co with 4,068 items, though the tally might be extra as a result of November numbers aren’t in. TVS and Bajaj Auto (which is ranked No. Eight with 3,841 items), are the one ICE gamers who’ve diversified into EVs. Their numbers are nonetheless on the decrease aspect, however that may be put all the way down to the truth that each their merchandise – the Bajaj Chetak and the TVS iQube – are at present out there solely in just a few cities.
Is the trade headed for overcapacity?
Given the speedy tempo of demand for electrical two-wheelers, gross sales can solely develop. The current hike within the FAME II subsidy, wallet-busting costs of petrol (even after the Central Excise obligation minimize on November 4), and over 20 states throughout India saying EV-friendly insurance policies, the scope and potential for these emission-free automobiles on two wheels is immense.
Understandably, EV makers are bullish about progress this yr and past. Whereas Hero Electrical’s managing director Naveen Munjal says EV gross sales are anticipated to hit the 30-million mark by 2030, Ather Vitality’s CEO Tarun Mehta believes round 40 p.c of petrol-engined scooter gross sales might be transformed to electrical scooters by 2025.
The EV buzz is within the information headlines too. Not a day passes with out an announcement of recent fairness infusion, excessive variety of claimed bookings or elevated manufacturing capability.
With new gamers like Ola, with its S1 and S1 Professional reaching over 1,00,000 bookings, Easy Vitality getting over 30,000 bookings and Increase Motors having over 25,000 bookings, EV gross sales in India are anticipated to develop considerably.
Nonetheless, with most OEMs saying manufacturing capacities operating into tens of millions of items with complete trade gross sales at simply 1 p.c of complete ICE two-wheeler gross sales of 16 million items, it offers rise to many questions: How actual is the demand within the Indian electrical two-wheeler trade and do the large manufacturing capability bulletins within the current previous from a number of OEMs warrant it? Is the e-two-wheeler trade headed for overcapacity? What concerning the provide chain ecosystem and charging infrastructure? Nonetheless, EV start-ups and established OEMs are optimistic that the tide will shift in a much bigger method in direction of e-mobility.