India Electric 2W and 3W Vehicle Market Analysis and Forecast to 2032: By Vehicle Type (Electric 2-Wheeler Vehicle, Electric 3-Wheeler Vehicle), Battery Type (Lithium-Ion, Lead Acid, Solid State), Battery Capacity (Less than 3 kW, 3 to 7 kW, Above 7 kW), Range (Less than 100 kms, 100 to 150 kms, Above 150 kms), and Region
The India Electric 2W and 3W Vehicle market was valued at US$ 1.78 billion in 2022 and it is anticipated to grow up to US$ 119.66 billion by 2032, at a CAGR of 48.48% during the forecast period.
An electric two-wheeler, known as an E-2-wheeler, is an all-electric vehicle. It comprises an electric scooter, motorbike, moped, bike, and bicycle. It has no engine and doesn’t operate on gasoline, diesel, or compressed natural gas. Instead, it runs and is powered entirely by electricity. Typically, it features a rechargeable battery to power the 2-wheeler and store electric energy. Hence, a 2-wheeler powered solely by electricity is called an E-2-wheeler, E-scooter, or E-Motorcycle. In essence, a two-power wheeler comes from two places: a battery and an alternator. The battery’s job is to store energy; when the engine is turned off, it retains the voltage level specified and keeps the electrical system operational. But, when the engine is started, the alternator generates power. Several electrical equipment is powered by it, charging the battery.
Electric three-wheelers are powered by electricity and have batteries with a longer lifespan and high-torque motors. Tricycles are three-wheelers with a single front wheel and two rear wheels; a tadpole is a three-wheeler with two front wheels and one back wheel. Electric three-wheelers are used more often in various industries, including passenger transportation within cities and the delivery of products and services. Electric three-wheelers, especially e-rickshaws, have become increasingly popular in India in the past few years. Three-wheeled vehicles are quite popular. Thus the adoption of electric vehicles is typically seen as the low-hanging fruit in this market category. Three-wheelers are promoted as an economical option for short- to medium-distance public transportation.
India Electric 2W and 3W Vehicle Market Scope and Report Structure
|Market Size in 2022||US$ 1.78 Billion|
|Market Size in 2032||US$ 119.66 Billion|
|Growth Rate (2022-32)||48.48%|
|Segments Covered||Vehicle Type, Battery Type, Battery Capacity, Range, and Region|
|Key Companies||Hero Electric Vehicles Pvt. Ltd., Bajaj Auto Limited, Mahindra & Mahindra Limited, Okinawa Autotech International Private Limited, Greaves Electric Mobility Private Limited (Ampere), TVS Motor Company, Ather Energy Private Limited, Revolt Intellicorp Private Limited, Ola Electric Mobility Pvt Ltd, Piaggio Vehicles Pvt. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto, Atul Auto Limited, Euler Motors Private Limited, and PuR Energy Private Limited (PURE EV)|
|Regional Scope||South India, North India, West India, East India, and Central India|
|Analysis Coverage||Market Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments|
Market Drivers and Trends
Since the FAME India initiative was implemented, the E-2W market in India has been steadily expanding. The market is now dominated by low and medium-speed E-2W (up to 40 kmph) using standard lead acid batteries since their upfront costs are comparable to those of ICE vehicles. Second, the high-speed lithium-ion battery market is also quietly gaining traction. Sales of high-speed E2Ws are anticipated to rise significantly over the next two years as more businesses obtained FAME-2 certification in 2020. Future demand for high-quality two-wheelers that can compete with ICE vehicles in terms of cost and performance is driven by the segment’s exponential expansion. Furthermore, the high-speed segment is anticipated to achieve parity by 2024–25 without additional government support in the form of subsidies. That could be considered the ongoing decline in the price of lithium-ion batteries, power electronics, and advancements in EV technologies and considered a turning moment for the explosive expansion of this market in the nation. According to industry estimates, lead acid technology will no longer be available in E-2W batteries over the next five years.
The low-speed E-3W market in India has expanded incredibly quickly across the nation. There are more than 600 registered players in the category, according to ICAT. In addition to the recognized OEMs, the grey e-rickshaw business has developed quickly across the nation, especially in West Bengal, Bihar, and the Delhi NCR. According to industry estimates, unorganized players are responsible for 60% of the e-rickshaws now on the road. Industry experts predict that the e-rickshaw business will increase significantly in the next years due to the opening of several new markets last year, including Raipur, Indore, Bhopal, Orissa, and others. Moreover, it is anticipated that the South and North East markets will open in the future years. Lead acid batteries continue to rule the industry regarding technology thanks to good after-sale support. Manufacturers, however, have begun to choose lithium-ion batteries. According to ICAT, lithium-ion batteries are used in 80% to 90% of the newer versions that have been tested and certified.
Hence, the demand for electric 2W and 3W vehicles in India will increase due to above mention factors.
Market Restraints and Challenges
B2B Challenges to EV Adoption in 2-Wheeler Vehicles:
B2B Challenges to EV Adoption in 3-Wheeler Vehicles:
In order to implement 3Ws, the following issues would need to be resolved in addition to the difficulties posed by operational limitations and a lack of ecosystem support.
India Electric 2W and 3W Vehicle Market Segmental Overview
The report analyses the India Electric 2W and 3W Vehicle market based on vehicle type, battery type, battery capacity, range, and region.
India Electric 2W and 3W Vehicle Market by Vehicle Type
Based on vehicle type, it is bifurcated into electric 2-wheeler vehicle and electric 3-wheeler vehicle. The electric 2 wheeler vehicle segment is expected to have the largest India Electric 2W and 3W Vehicle market share in 2022. Further, electric 2-wheeler vehicle segment is bifurcated into electric scooters and electric motorcycles. Similarly, electric 3-wheeler vehicle segment is bifurcated into passenger carriers and load carriers.
Sales of electric two-wheelers increased by 305% from 2021 levels. According to a February 2023 article by CleanTechnica, the markets for two-wheel EVs have increased from fewer than 2,000 vehicles in 2013 to over 600,000 per year per year in 2022. Hero Electric, Okinawa Autotech, and Ola Electric have been the top 3 producers. According to a CleanTechnica report from February 2023, EV sales made about 4% of total two-wheeler sales in 2022. The Indian government’s measures to improve e-mobility in the nation are what are driving all of this growth.
During the COVID-19 outbreak, sales of electric bikes and scooters decreased. Nevertheless, in the second half of 2020, the market swiftly rebounded, and demand is now rising quickly. Together with cost reductions and lower operational expenses, other market-driving considerations include noise and air pollution in large cities.
Via its FAME (Faster Adoption and Manufacture of Electric Vehicles) 2 policy, the Indian government promotes the use of EVs. Even battery switching is planned by the Indian Finance Minister for his FY 22 budget. Both the market and the government are driving EV adoption. The manufacturing of components is becoming localised, which lowers costs. Moreover, FAME 2 provides financial aid for fast electric two-wheelers.
As a result, the Indian market for electric two-wheelers is booming. With growth rates this high, it won’t be long until some of India’s major cities have calmer streets and better air.
India Electric 2W and 3W Vehicle Market by Battery Type
Based on battery type, it is segmented into lithium-ion, lead acid, and solid state. The lithium-ion segment is expected to dominate the market during the forecast period.
Given that India is anticipated to overtake China as the third-largest automotive market by 2026 and that lithium-ion batteries (LiBs) are in such high demand (80%) from the automotive sector for electric vehicles (EVs), LiB production need immediate attention. In addition, the Central Electricity Authority (CEA) estimates that 34 gigawatts (GW)/136 gigawatt-hours (GWh) of battery storage are required in order to add 450 GW of renewable energy in India by 2030, in addition to the Government of India’s target of 30% of new vehicle sales being electric by that time. India is so primed to emerge as a significant LiB user.
It also offers several advantages, such as a smaller size compared to large lead acid batteries. Compared to lead acid batteries, lithium-ion batteries have a longer service life (1000–4000 cycles) (500-1000 cycles). increased charging speed in comparison to lead acid batteries. Some batteries memorise the lowered life cycle after repeated charging and discharging, so the following time the battery is charged, it will have a much shorter functioning life. 0.35 to 2.5% self-discharging rate as opposed to lead acid batteries’ 5% self-discharging rate. As a result, producers of electric 2W and 3W vehicles in India favour lithium-ion batteries.
India Electric 2W and 3W Vehicle Market by Battery Capacity
Based on battery capacity, it is segmented into less than 3 kW, 3 to 7 kW, and above 7 kW. The 3 to 7 kW segment is expected to be the largest segment in the India Electric 2W and 3W Vehicle market in 2022.
The battery capacity for high-speed e-2Ws and e-3Ws is in the range of 3 to 7 kWh. According to figures issued by the Society of Manufacturers of Electric Vehicles (SMEV) in 2021, the high-speed e-2Ws, which can reach speeds of more than 25 km/h and require a full license, had a 425% rise.
The electricity user receive when charging vehicles straight into a wall socket is used by these most basic chargers.
India Electric 2W and 3W Vehicle Market by Range
Based on range, it is segmented into less than 100 kms, 100 to 150 kms, and above 150 kms. The 100 to 150 kms segment is expected to dominate the market during the forecast period.
Top bikes/scooters for tag electric scooter bike with Range 100 to 150 km are Ola Electric, Okinawa Praise Pro, Hero Electric Photon 48V, Avera Retrosa, Yamaha EC 05, and Revolt RV300.
Regional Analysis of India Electric 2W and 3W Vehicle Market
Region-wise, it is studied across South India, North India, West India, East India, and Central India. The North India market is expected to hold the majority of the market share in 2022.
North India consists of 6 North Indian States and four Union Territories namely Delhi, Haryana, Jammu and Kashmir, Himachal Pradesh, Uttar Pradesh, Punjab, Uttarakhand, Rajasthan, Ladakh, and Chandigarh.
As per Ministry of Heavy Industries data, in July 2022, the number of electric vehicles currently being used on the roads of Chandigarh was 2,812, Delhi was 1,56,393, Haryana were 37,035, Himachal Pradesh was 1,175, Jammu and Kashmir were 2,941, Ladakh was 26, Punjab were 14,804, Rajasthan were 81,338, Uttarakhand was 31,008, and Uttar Pradesh were 3,37,180. Also, as per Ministry of Heavy Industries data, in January 2022, the number of retail outlets (RO) where EV charging facility available in Chandigarh was 4, Delhi was 66, Haryana was 114, Himachal Pradesh was 13, J&K was 3, Leh was 2, Punjab were 41, Rajasthan was 174, and Uttar Pradesh was 128.
The increasing use of electric vehicles and the increasing number of retail outlets (RO) where EV charging facility available in North India are boosting the market growth.
Further, as per the NITI Aayog report in 2021, favorable state policies aimed at promoting manufacturing and increasing demand for electric vehicles in their respective states. 25% of new vehicles to be EVs by 2024 in Delhi. Also, The EV policy of Delhi is offering purchase incentives to all E-rickshaw or E-cart, including models with lead acid batteries. Similarly, Uttar Pradesh EV policy provides an exemption from registration fees and road tax for EV buyers. However, it only applies to the vehicles manufactured in the state itself. In addition to the above measures, Uttar Pradesh has announced introducing Special Power Tariff Policy to facilitate low-cost EV charging and a TOU tariff for vehicle charging. The state also envisages upskilling its workforce on EV technology and promoting R&D on next-generation battery chemistries, fuel cell systems, powertrains, automotive electronics, and electrical road systems (ERS). Uttarakhand state policy significantly supports EV component manufacturing in the state. Buyers will also receive an exemption from the Motor Yan tax, and commercial vehicles will receive an exemption from carriage permits.
Major Players in the India Electric 2W and 3W Vehicle Market
The key players studied in the India Electric 2W and 3W Vehicle market are Hero Electric Vehicles Pvt. Ltd., Bajaj Auto Limited, Mahindra & Mahindra Limited, Okinawa Autotech International Private Limited, Greaves Electric Mobility Private Limited (Ampere), TVS Motor Company, Ather Energy Private Limited, Revolt Intellicorp Private Limited, Ola Electric Mobility Pvt Ltd, Piaggio Vehicles Pvt. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto, Atul Auto Limited, Euler Motors Private Limited, PuR Energy Private Limited (PURE EV).
During pre-COVID-19 pandemic, the sales of electric vehicles was higher. Since they had single-digit growth in FY2019, internal combustion engine car sales may have suffered. In contrast, the nation’s emerging electric vehicle (EV) industry posted respectable figures, albeit from a considerably smaller basis. India’s overall EV sales in FY2019 exceeded the 7,50,000-unit threshold and totaled 7,59,600 units. This comprises 1,26,000 electric two-wheelers, 6,30,000 electric three-wheelers, and 3,600 electric passenger vehicles, resulting in triple-digit growth (130%) for electric two-wheelers year over year (YoY). Although the FY2019 data show a large increase year over year, the actual situation appears frightening, especially in light of the government’s announcement of the much-expected FAME II (Faster Adoption and Manufacture of Electric Vehicles) initiative in early April.
The COVID-19 pandemic significantly disrupted the auto sector, affecting consumer demand for electric automobiles, two-wheelers, and three-wheelers. According to the Society of Electric Vehicle Manufacturers (SMEV), sales of all-electric vehicle registrations fell by 20% to 236 802 units in FY21 from 295 683 in FY20. The largest of the three, electric two-wheelers (E2W), had a fall of 6%. 143,837 electric two-wheelers were sold at the end of FY21, down from 152,000 in FY20. During FY21, a combined 40,836 high-speed and 103,000 low-speed E2Ws were sold. The pandemic had the greatest effect on electric three-wheelers (E3W), just like on the market for three-wheelers fueled by fossil fuels. Sales for the E3W sector were 88,378 units, a 37% decrease from the 140, 683 units sold in FY20. Also, the pandemic affected and hampered the supply of lithium-ion battery packs in FY21 for many weeks. After this, the government imposed restrictions on shipments coming from China, which once more severely hampered the supply of batteries. India relies on China, the only manufacturer of lithium-ion cells, to produce battery packs. Therefore, India electric 2W and 3W vehicle market had a negative impact during the COVID-19 pandemic.
According to an article in The Hindu, from February 2023, India’s EV sales reached one million units for the first time in 2022, marking a record 206% year-over-year rise over 2021’s EV sales figures. With 10,54,938 units sold, India’s EV sector had a record-breaking year in sales across all vehicle segments in 2022, making up 4.7% of all vehicle sales. A more than threefold rise in EV sales from the 3,44,495 units delivered in 2021 is expected for 2022. With sales of 6,69,845 units in 2022, high-speed E-2-wheelers demonstrated the largest segment share and a tremendous growth rate of 291% over CY 2021 figures.
- July 2022, Ola Electric has announced a USD 500 million investment in the establishment of its state-of-the-art Battery Innovation Center (BIC) in Bangalore. With over 165 unique and cutting-edge lab equipment to handle all elements of cell related research and development, BIC will be one of the world’s largest and most advanced cell R&D facilities.
- December 2021, Bajaj Auto Limited announced a Rs 300 Cr (USD 40 Mn) investment and the start-up of a brand-new factory in Akurdi to manufacture Electric Vehicles. This facility will be capable of producing 500,000 EVs per year. Akurdi (Pune) is also home to the first Chetak scooter manufacturing, which helped establish Bajaj Auto as a household name in India.
- August 2021, Kinetic Green would invest Rs 300 crore in the EV industry and begin development on the revived Luna. Kinetic Green’s Safar three-wheeler hopes to capitalise on the e-commerce and home delivery boom, and it plans to expand into e-two-wheelers as well.
India Electric 2W and 3W Vehicle Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current India Electric 2W and 3W Vehicle market outlook and estimations from 2023 to 2032, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future India Electric 2W and 3W Vehicle market potential from 2023 to 2032 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the India Electric 2W and 3W Vehicle market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the India Electric 2W and 3W Vehicle industry.
Frequently Asked Questions
Q1. How big is the India Electric 2W and 3W Vehicle market?
Ans. The India Electric 2W and 3W Vehicle market size was US$ 1.78 billion in 2022 and is anticipated to reach US$ 119.66 billion in 2032, growing at a rate of 48.48% from 2023 to 2032.
Q2. What is the India Electric 2W and 3W Vehicle market growth rate?
Ans. The growth rate of the India Electric 2W and 3W Vehicle market is 48.48% from 2023 to 2032.
Ans. North India holds a major market share of the India Electric 2W and 3W Vehicle market in 2022.
Q4. Which segment accounted for the largest India Electric 2W and 3W Vehicle market share?
Ans. Based on battery capacity, it is segmented into less than 3 kW, 3 to 7 kW, and above 7 kW. The 3 to 7 kW segment is expected to be the largest segment in the India Electric 2W and 3W Vehicle market in 2022.
Q5. Who are the key players in the India Electric 2W and 3W Vehicle market?
Ans. The India Electric 2W and 3W Vehicle market report includes players such as Hero Electric Vehicles Pvt. Ltd., Bajaj Auto Limited, Mahindra & Mahindra Limited, Okinawa Autotech International Private Limited, Greaves Electric Mobility Private Limited (Ampere), TVS Motor Company, Ather Energy Private Limited, Revolt Intellicorp Private Limited, Ola Electric Mobility Pvt Ltd, Piaggio Vehicles Pvt. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto, Atul Auto Limited, Euler Motors Private Limited, PuR Energy Private Limited (PURE EV).
Q6. What are the factors driving the India Electric 2W and 3W Vehicle market growth?
Ans. The major factors driving the growth of the market are surge in growth of 2W and 3W vehicles, government incentives, and improved cost competitiveness.
Q7. What are the key growth strategies of India Electric 2W and 3W Vehicle market players?
Ans. The key growth strategies of India Electric 2W and 3W Vehicle market players are business expansion, partnerships, joint ventures, collaborations, product launch, and deals.
Ans. The West India will provide more business opportunities for the India Electric 2W and 3W Vehicle market during the forecast period.
Table of Contents
Chapter 1. India Electric 2W and 3W Vehicle Market Overview
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Limitations
1.4. Research Methodologies
1.4.1. Secondary Research
1.4.2. Market Size Estimation Technique
1.4.4. Primary Research and Data Validation
Chapter 2. Executive Summary
2.2. Key Highlights of the Market
Chapter 3. Premium Insights on the Market
3.1. Market Attractiveness Analysis, By Region
3.2. Market Attractiveness Analysis, By Vehicle Type
3.3. Market Attractiveness Analysis, By Battery Type
3.4. Market Attractiveness Analysis, By Battery Capacity
3.5. Market Attractiveness Analysis, By Range
Chapter 4. India Electric 2W and 3W Vehicle Market Outlook
4.1. India Electric 2W and 3W Vehicle Market Segmentation
4.2. Market Dynamics
4.2.1. Market Drivers
220.127.116.11. Driver 1
18.104.22.168. Driver 2
22.214.171.124. Driver 3
4.2.2. Market Restraints
126.96.36.199. Restraint 1
188.8.131.52. Restraint 2
4.2.3. Market Opportunities
184.108.40.206. Opportunity 1
220.127.116.11. Opportunity 2
4.3. Porter’s Five Forces Analysis
4.3.1. Threat of New Entrants
4.3.2. Threat of Substitutes
4.3.3. Bargaining Power of Buyers
4.3.4. Bargaining Power of Supplier
4.3.5. Competitive Rivalry
4.4. PESTLE Analysis
4.5. Value Chain Analysis
4.5.1. Raw Material Suppliers
4.5.3. Wholesalers and/or Retailers
4.6. Impact of COVID-19 on the India Electric 2W and 3W Vehicle Market
4.7. Pricing Analysis
4.7.1. 2 Wheelers
18.104.22.168. Variation in cost of 2W EV and conventional vehicles
4.7.2. 3 Wheelers
4.8. Electric Vehicle Ecosystem
4.9. Case Studies
4.10. Policies & Regulations
4.11. Technology Trend Analysis
4.12. India Electric 2W and 3W Vehicle Market: Optimistic, Pessimistic, and Realistic Scenario
4.12.1. Optimistic Scenario
4.12.2. Pessimistic Scenario
4.12.3. Realistic Scenario
Chapter 5. India Electric 2W and 3W Vehicle Market By Vehicle Type ($Bn, Units)
5.1. Market Overview
5.2. Electric 2-Wheeler Vehicle
5.2.1. Market Size and Forecast, 2022-2032 ($Billion, Units)
5.2.2. Market Size and Forecast, By Type
22.214.171.124. Electric Scooters
126.96.36.199. Electric Motorcycles
5.3. Electric 3-Wheeler Vehicle
5.3.1. Market Size and Forecast, 2022-2032 ($Billion, Units)
5.3.2. Market Size and Forecast, By Type
188.8.131.52. Passenger Carriers
184.108.40.206. Load Carriers
Chapter 6. India Electric 2W and 3W Vehicle Market By Battery Type
6.1. Market Overview
6.2.1. Market Size and Forecast, 2022-2032 ($Billion)
6.2.2. Market Size and Forecast
6.3. Lead Acid
6.3.1. Market Size and Forecast, 2022-2032 ($Billion)
6.3.2. Market Size and Forecast
6.4. Solid State
6.4.1. Market Size and Forecast, 2022-2032 ($Billion)
6.4.2. Market Size and Forecast
Chapter 7. India Electric 2W and 3W Vehicle Market By Battery Capacity
7.1. Market Overview
7.2. Less than 3 kW
7.2.1. Market Size and Forecast, 2022-2032 ($Billion)
7.2.2. Market Size and Forecast
7.3. 3 to 7 kW
7.3.1. Market Size and Forecast, 2022-2032 ($Billion)
7.3.2. Market Size and Forecast
7.4. Above 7 kW
7.4.1. Market Size and Forecast, 2022-2032 ($Billion)
7.4.2. Market Size and Forecast
Chapter 8. India Electric 2W and 3W Vehicle Market By Range
8.1. Market Overview
8.2. Less than 100 kms
8.2.1. Market Size and Forecast, 2022-2032 ($Billion)
8.2.2. Market Size and Forecast
8.3. 100 to 150 kms
8.3.1. Market Size and Forecast, 2022-2032 ($Billion)
8.3.2. Market Size and Forecast
8.4. Above 150 kms
8.4.1. Market Size and Forecast, 2022-2032 ($Billion)
8.4.2. Market Size and Forecast
Chapter 9. India Electric 2W and 3W Vehicle Market, By Region
9.2. Market Size and Forecast
9.3. South India
9.3.1. Key Market Trends and Opportunities
9.3.2. Market Size and Forecast
9.4. North India
9.4.1. Key Market Trends and Opportunities
9.4.2. Market Size and Forecast
9.5. West India
9.5.1. Key Market Trends and Opportunities
9.5.2. Market Size and Forecast
9.6. East India
9.6.1. Key Market Trends and Opportunities
9.6.2. Market Size and Forecast
9.7. Central India
9.7.1. Key Market Trends and Opportunities
9.7.2. Market Size and Forecast
Chapter 10. Competitive Landscape
10.1. Market Overview
10.2. Market Share Analysis
10.3. Ranking by India Electric 2W and 3W Vehicle Market Revenue
10.4. Vendor Benchmarking
10.5. Developmental Strategy Benchmarking
10.5.1. New Product Development
10.5.2. Product Launches
10.5.3. Business Expansions
10.5.4. Partnerships, Joint Ventures, and Collaborations
10.5.5. Mergers and Acquisitions
Chapter 11. Company Profiles
11.1. Hero Electric Vehicles Pvt. Ltd.
11.1.1. Company Snapshot
11.1.2. Financial Performance
11.1.3. Product Offerings
11.1.4. Key Strategic Initiatives
11.1.5. SWOT Analysis
11.2. Bajaj Auto Limited
11.2.1. Company Snapshot
11.2.2. Financial Performance
11.2.3. Product Offerings
11.2.4. Key Strategic Initiatives
11.2.5. SWOT Analysis
11.3. Mahindra & Mahindra Limited
11.3.1. Company Snapshot
11.3.2. Financial Performance
11.3.3. Product Offerings
11.3.4. Key Strategic Initiatives
11.3.5. SWOT Analysis
11.4. Okinawa Autotech International Private Limited
11.4.1. Company Snapshot
11.4.2. Financial Performance
11.4.3. Product Offerings
11.4.4. Key Strategic Initiatives
11.4.5. SWOT Analysis
11.5. Greaves Electric Mobility Private Limited (Ampere)
11.5.1. Company Snapshot
11.5.2. Financial Performance
11.5.3. Product Offerings
11.5.4. Key Strategic Initiatives
11.5.5. SWOT Analysis
11.6. TVS Motor Company
11.6.1. Company Snapshot
11.6.2. Financial Performance
11.6.3. Product Offerings
11.6.4. Key Strategic Initiatives
11.6.5. SWOT Analysis
11.7. Ather Energy Private Limited
11.7.1. Company Snapshot
11.7.2. Financial Performance
11.7.3. Product Offerings
11.7.4. Key Strategic Initiatives
11.7.5. SWOT Analysis
11.8. Revolt Intellicorp Private Limited
11.8.1. Company Snapshot
11.8.2. Financial Performance
11.8.3. Product Offerings
11.8.4. Key Strategic Initiatives
11.8.5. SWOT Analysis
11.9. Ola Electric Mobility Pvt Ltd
11.9.1. Company Snapshot
11.9.2. Financial Performance
11.9.3. Product Offerings
11.9.4. Key Strategic Initiatives
11.9.5. SWOT Analysis
11.10. Piaggio Vehicles Pvt. Ltd.
11.10.1. Company Snapshot
11.10.2. Financial Performance
11.10.3. Product Offerings
11.10.4. Key Strategic Initiatives
11.10.5. SWOT Analysis
11.11. Kinetic Green Energy & Power Solutions Ltd.
11.11.1. Company Snapshot
11.11.2. Financial Performance
11.11.3. Product Offerings
11.11.4. Key Strategic Initiatives
11.11.5. SWOT Analysis
11.12. Lohia Auto
11.12.1. Company Snapshot
11.12.2. Financial Performance
11.12.3. Product Offerings
11.12.4. Key Strategic Initiatives
11.12.5. SWOT Analysis
11.13. Atul Auto Limited
11.13.1. Company Snapshot
11.13.2. Financial Performance
11.13.3. Product Offerings
11.13.4. Key Strategic Initiatives
11.13.5. SWOT Analysis
11.14. Euler Motors Private Limited
11.14.1. Company Snapshot
11.14.2. Financial Performance
11.14.3. Product Offerings
11.14.4. Key Strategic Initiatives
11.14.5. SWOT Analysis
11.15. PuR Energy Private Limited (PURE EV)
11.15.1. Company Snapshot
11.15.2. Financial Performance
11.15.3. Product Offerings
11.15.4. Key Strategic Initiatives
11.15.5. SWOT Analysis
*The List of Company Is Subject To Change During The Final Compilation of The Report
Chapter 12. GIS Recommendations
- Hero Electric Vehicles Pvt. Ltd.
- Bajaj Auto Limited
- Mahindra & Mahindra Limited
- Okinawa Autotech International Private Limited
- Greaves Electric Mobility Private Limited (Ampere)
- TVS Motor Company
- Ather Energy Private Limited
- Revolt Intellicorp Private Limited
- Ola Electric Mobility Pvt Ltd
- Piaggio Vehicles Pvt. Ltd.
- Kinetic Green Energy & Power Solutions Ltd.
- Lohia Auto
- Atul Auto Limited
- Euler Motors Private Limited
- PuR Energy Private Limited (PURE EV)
India Electric 2W and 3W Vehicle Market Segmentation
By Vehicle Type
- Electric 2-Wheeler Vehicle
- Electric Scooters
- Electric Motorcycles
- Electric 3-Wheeler Vehicle
- Passenger Carriers
- Load Carriers
By Battery Type
- Lead Acid
- Solid State
By Battery Capacity
- Less than 3 kW
- 3 to 7 kW
- Above 7 kW
- Less than 100 kms
- 100 to 150 kms
- Above 150 kms
- South India
- North India
- West India
- East India
- Central India