After initial frenzy, electric two-wheeler market consolidating

Just 7 companies accounted for 86% of all electric two-wheeler registrations in September

After the initial euphoria, the electric two-wheeler market is going through a quiet consolidation. An analysis of VAHAN data shows that just seven companies last month accounted for 86 per cent of registrations of electric two-wheelers (dominated by e-scooters).

These seven — out of 80 registered companies — were incumbent internal combustion engine (ICE) two-wheeler players Bajaj Auto and TVS, and electric two-wheeler makers Ola Electric, Hero Electric, Ather Energy, Okinawa and Ampere. Also, only these seven were able to record 1,000 registrations or more in September. Half the companies registered as electric two-wheeler makers were not able to reach