- Ola Electric tops the sales in May 2023
- TVS secures second spot
- Revised FAME-II subsidy applicable from 1 June, 2023
The revised FAME-II subsidy with lower benefits will result in the price increase for electric two-wheelers sold in India. The revised subsidy is applicable from June 2023. However, several brands have decided to absorb this price increase for a limited period to ensure electric vehicle adoption and better sales. Electric two-wheeler brands such as Ather Energy, TVS Motor Company, and Hero Electric have already announced their plans post the subsidy revision.
Meanwhile, here we list the top five selling electric two-wheeler brands in the Indian market in May 2023. Ola Electric dominated the list with a total of 28,438 unit sales during the recently concluded month. It was followed by TVS Motor Company, which sold 17,937 electric two-wheelers under the iQube brand during the same period. Bengaluru-based Ather Energy secured the third spot with 15,256 unit sales, while Pune-based Bajaj Chetak took the fourth spot on the list with 9,910 unit sales in May 2023. Ampere finished fifth on this list, closely behind Bajaj Auto, securing 9,618 electric two-wheeler sales during the last month.
Ather Energy announced in its press statement that it secured a 357 per cent year-on-year growth during May 2023 as against the corresponding month last year. TVS Motor Company, too, saw a massive jump in their year-on-year sales. The numbers for the Hosur-based manufacturer increased from 2,637 units in May last year to 17,953 units in May 2023. The company added in its press announcement that it currently has a healthy booking pipeline of over 30,000 units for its iQube range.
As reported earlier, the FAME-II subsidy has been revised to Rs. 10,000 per kWh as against the Rs. 15,000 previously, with a maximum cap of 15 per cent of the ex-factory price. This new subsidy is applicable from 1 June, 2023.
