Legacy companies are making significant strides in the electric two-wheeler market, outpacing their startup counterparts in the first quarter. The market share of leading electric two-wheeler startups such as Ola Electric, Ather Energy, and Greaves Electric saw a decline from 59% to 48.8% compared to the previous year. On the other hand, traditional manufacturers like Bajaj Auto and Hero MotoCorp have seen an increase in market presence, capturing around 30% of the market share. In terms of sales, electric two-wheeler numbers grew by 1.4% to 221,548 units, with Ola Electric leading the pack at 107,911 units. Legacy companies are ramping up efforts to expand their portfolios and networks, with Hero MotoCorp focusing on growth and Bajaj Auto emphasizing long-term market presence. Additionally, TVS Motor Company is gearing up for multiple electric vehicle launches, intensifying competition in the sector. The industry landscape is witnessing a shift as traditional players carve out a larger market share in the electric two-wheeler segment, reflecting changes in consumer preferences and industry trends.
Electric 2-Wheeler Market Shift: Legacy Companies Gain as Startups Slow, India
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