E-scooters to hit 5% of two-wheeler mkt in FY23: Greaves Electric Mobility

Greaves Electric Mobility (GEM), which sells the Ampere brand of electric scooters, projects that the inflexion point for the conversion of internal combustion engine (ICE) scooters to electric ones will be reached in FY23, hitting 4-5 per cent of the total two-wheeler market. In FY22 the penetration of electric two-wheelers was less than 2 per cent of the market.

Elaborating on its upbeat view of the industry, Nagesh A Basavanhali, executive vice-chairman of Greaves Cotton Ltd, of which Greaves Mobility is a subsidiary, says : “Our projection is that the industry will hit sales of 700,000 electric scooters in this financial year, compared to 250,000 in FY 22. This will be the real inflection point which is needed as penetration of electric scooters will hit 4-5 per cent.”