The sales of electric two-wheeler could miss the target of 10 lakh units in 2022-23 by 20 per cent, due to the withholding of around Rs 1,100-crore subsidy by the government, according to industry body SMEV.
In 2022, the sales of electric two-wheelers stood at around 6 lakh units, with three major electric two-wheeler (E2W) makers — Hero Electric, Ola and Okinawa — crossing the 1 lakh annual sales mark for the first time, the Society of Manufacturers of Electric Vehicles (SMEV) said in a release.
These original equipment manufacturers (OEMs) dominated the E2W market, controlling over 50 per cent of the total market share, and emerged as the top players in the category.
