Electric two-wheeler sales are expected to triple this year, know what the report says

The demand for electric vehicles is increasing in India, as people are looking to try something new and at the same time, due to rising fuel prices, they are forced to look for alternatives. Therefore, the sales of electric two-wheelers are estimated to triple in the current financial year 2022-23. The main reason for this is believed to be the incentive given by the government on the purchase of electric two-wheelers and the increase in the prices of petrol.

According to estimates by the Society of Manufacturers of Electric Vehicles (SMEV), more than one million units of electric two-wheelers can be sold in the current financial year. Electric two-wheeler sales stood at 3.45 lakh units in the financial year 2021-22. In the preceding financial year, 1.46 lakh electric two-wheelers were sold. About 15 million two-wheelers are sold in the country every year. In such a situation, the share of electric two-wheelers in the total sales of two-wheelers in the current financial year may reach eight percent, which is currently two percent.

The government gives a subsidy to buy an electric vehicle

For information, let us tell you that the increase in incentives for electric two-wheelers by the government has given a lot of impetus to sales. Earlier, an incentive of Rs 10,000 was available for a one-kilowatt battery, which has now increased to Rs 15,000.

Electric scooters usually have a battery of three to four kilowatts. In such a situation, where earlier the buyer used to get an incentive of 30-40 thousand rupees, it has now increased to 45-60 thousand rupees. Now electric scooters are available for up to Rs 70,000.