Under the dual role of government policy guidance and market demand, the Indian electric two-wheeler market is rising at an unprecedented speed, and the future development prospects are broad, and it is expected that in the next decade, the annual sales in this field will increase by 15 to 20 times, reaching the scale of 15 million to 20 million. Here’s a breakdown:

- Development status:
Faster market growth: In 2023, India’s light vehicle market surged by 9.8% to 2 million units. Nevs accounted for 2.4 per cent of the market in India, up 137 per cent year-on-year with 48,000 units sold. The two-wheeled vehicle is an important means of transportation in India and Southeast Asia, according to statista data, the number of second-wheeled motorcycle registrations in India in the fiscal year 2019 was about 220 million, and the number of motorcycle registrations in Southeast Asia was 221 million. In 2022, the Indian market sold 12.63 million motorcycles with sales of 24.3 billion US dollars, and the Southeast Asian market sold 10.6 million motorcycles with sales of 25 billion US dollars.
- The industry continues to upgrade: the emerging electric two-wheeled vehicle companies are no longer limited to the early low-speed and short-life mode in product design and performance, but more to the mainstream market demand. 85% of the 65 models launched in 2022 are high-speed products, and the average battery capacity of new products has increased from 2.3kWhr to 3kWhr, which marks the technological advancement and quality improvement of the Indian electric two-wheeler industry.
- Development Opportunities:
- Government policy support: In order to achieve the goal of 100% electric vehicles on the road by 2030, the Indian government has set ambitious targets and implemented a program called FAME II (Faster Adoption and Manufacturing of hybrid and electric vehicles), which strongly supports the development of the electric two-wheeler market by providing subsidies for the purchase of vehicles. It recently extended the program until 2024. The government has also set a target of 30 per cent electric vehicle penetration by 2030 and net zero carbon emissions by 2070.
- Increasing market demand: With the growing global demand for clean energy vehicles and governments committed to emission reduction targets, the Indian electric two-wheeler market is undergoing an unprecedented revolution. At the same time, India has a large population, rapid economic development, and accelerating urbanization, and the demand for convenient, efficient and environmentally friendly modes of transportation is also increasing.
- Technological progress: With the continuous progress of Internet of Things technology and the continuous expansion of application scope, the development of Internet of Things industry will usher in greater development opportunities. Electric two-wheelers will also benefit from technological advances, such as battery technology, charging technology, autonomous driving technology, etc., which will improve the performance and safety of electric two-wheelers, reduce costs, and further promote the popularity of electric two-wheelers.
- Development challenges:
Inadequate infrastructure: Inadequate charging infrastructure is one of the biggest challenges to the development of the electric two-wheeler industry in India. At present, the number of charging piles in India is far from meeting the demand, which brings inconvenience to consumers and limits the popularity of electric two-wheelers.
- Fierce price competition: As the market continues to expand, the price competition between electric two-wheeler companies will also become increasingly fierce. Some enterprises may compete for market share by lowering prices, but this may affect product quality and the profitability of enterprises.
Low consumer awareness: Despite a lot of efforts by governments and companies to promote electric two-wheelers, consumer awareness of electric two-wheelers is still low. Many consumers have doubts about the performance, safety and range of electric two-wheelers, which also limits the popularity of electric two-wheelers.

In short, the future development of the electric two-wheeler industry in India is promising, but it also faces some challenges. The government and enterprises need to work together to increase support and investment in the electric two-wheeler industry, improve product quality and technical level, improve infrastructure construction, and strengthen market promotion and consumer education in order to promote the healthy development of India’s electric two-wheeler industry.