Two-wheeler electric vehicle sales may fall short of 1-million target

Still FY23 sales figure, so far, is up 146%; FY24 outlook is bright, say experts

With just a month left in this financial year, electric two-wheeler sales, so far, are at just 62 per cent of the ambitious target of 1 million units set for 2022-23 by the NITI Aayog. According to VAHAN data, compiled by the Society of Manufacturers of Electric Vehicles (SMEV), 620,006 units of electric two-wheelers were sold across the country until February 21.

Though the industry may miss the 1-million target, sales in FY23 are already up 146 per cent from 249,621 units sold in FY22. Compared with FY21, there is a 13-fold jump.

Two-wheeler EV sales hit a few roadblocks