The penetration of electric two-wheelers in the country has hit 4.4 per cent in FY23, a 2.5x jump over the previous year, when it was at 1.74 per cent, thus heralding the inflexion point for a quick takeoff of the segment that EV makers were hoping for.
Data from VAHAN, the government’s e-portal for automobile registration and other services, reveals that in FY23 (till March 31), 670,000 electric two-wheelers were registered — an over threefold growth from 220,000 in FY22. In March this year alone, the total number of registrations of electric two-wheelers has gone up to 75,826, an increase of 20 per cent over the previous month.
