Zipping halfway through 2020: High-Speed Electric 2-Wheelers

Electric two-wheelers (E2Ws) have been gaining tremendous traction in the past 2-3 years. With falling battery prices and government-supported initiatives and schemes such as FAME, many OEMs have gained confidence to upgrade and develop more advanced and sophisticated E2W models, especially in the high-speed segment.

The top 5 leading players in this niche segment cumulatively sold 9,100 units of E2Ws during H1 2020. Although the sales was drastically affected due to covid-induced lockdown in the months of April and May, the high-speed (HS-E2W) segment is showing signs of growth revival as June witnessed a 149% surge in month-on-month sales.

Fig. 1: High-speed E2W Monthly Sales of leading players in H1 2020

Source: Vahan Dashboard, JMK Research

Note: All figures represent sales of only high-range E2W models with speed higher than 25 kmph.

In H1 2020, Hero Electric has taken the lead with about 36% share in the high-speed E2W market. It is followed by Okinawa, Ampere, Ather and Revolt respectively.

Fig. 2: Market share of top E2W players in high-speed segment in H1 2020 (Jan-June 2020)

sales electric two-wheelers

Source: Vahan Dashboard, JMK Research

Note: The chart refers to sales of only high-range E2W models with speed higher than 25 kmph.

The prices of HS-E2Ws are steadily approaching that of Internal Combustion Engine (ICE) powered counterparts, stimulating their market demand further. Interestingly, with the narrowing of price gap between the high-speed E2Ws and their ICE-2W equivalents, this premium class of E2Ws are also becoming increasingly efficient, offering greater value for money for the customers.

Click to read our comprehensive report on “Electric Two Wheeler Market Outlook for India”