E-scooters to make up 20% of 2-wheeler segment by FY2023

The market share of e-scooters has increased from 3-4% to 12% in just 6 months.

As electric vehicles become more accessible thanks to government sops, more and more people are transitioning to EVs. The electric 2-wheeler segment, in particular, has seen immense growth in the recent past and according to Tarun Mehta, Co-founder and CEO, Ather Energy, e-scooters will account for 20% of the overall 2-wheeler market by the end of the current fiscal.

Mehta stated that the market share of e-scooters has increased from 3-4% to 12% in just 6 months. In the next 12-18 months, he expects the market penetration of e-scooters to rise to almost 25-30%.

He also stated that things have come a long way since 2013 when customers had to be convinced that electric vehicles were not a toy. Now, demand is 2-3 times more than supply. Even Tier 2 and Tier 3 cities have registered decent growth.

Mehta also highlighted the need for an EV policy tailored to India's social and environmental conditions. He said that EV makers will face a huge challenge when subsidies end in the next 2 to 3 years.

Source: Autocar Professional