Indian Two Wheeler Market
The Indian Two-Wheeler market consists mainly of scooters and motorcycles. The market has experienced significant growth in recent years due to increased urbanization and government subsidies. The Two-Wheeler is also more affordable for most of the middle-class population. With the increase of delivery services for everything from groceries to medicines the Two-Wheeler also affords a way for a lot of Indians to make a living. As the cost of petrol is high EVs become more attractive over the long term even though their initial cost is higher than petrol powered two wheelers.
The market for Two Wheelers was estimated at 302.2 Billion USD in 2022 and is expected to grow to 411 Billion by 2032 which is a 3.50% compound annual growth rate (CAGR). (Source:marketresearchfuture)
Electric Two Wheelers
Recently Electric Two-Wheelers (E2Ws) have entered the market and are becoming very popular propelled again by government incentives and the growing awareness of environmental issues. E2Ws make up around 55% of all electric vehicle sales in India. (Source:autocarpro)
Among the E2W manufactures Ola has the biggest market share currently at around 50%. TVS Motor, Bajaj Auto and Ather are some of the other big players in this market. Ola is also introducing EV motorcycles in addition to their EV scooters.
Podrain Visit to Ola Sankalp 2024
Recently Podrain Electronics was invited to visit Ola’s annual event Ola Sankalp 2024 held at Krishnagiri, Tamil Nadu.
Podrain makes prototypes for Ola.
We were able to visit their manufacturing facility for scooters called Ola Future Factory. Ola is also building a Gigafactory to manufacture advanced cells for electric vehicle batteries.
