2035 Outlook for the Global Electric Motorcycle Industry

Chapter 1. Global Electric Motorcycle Industry

1. Electric Motorcycle-related Policies Around the World
   • Electric Motorcycle Promotion and Industry Development Measures in Major Markets
2. Global Electric Motorcycle Market Trends and Outlook for 2035
   • China Accounts for 80% of Global Electric Motorcycle Sales, but India / ASEAN’s Share to Surpass 50% in 2035
3. Global Electric Motorcycle Industry Trends and Outlook for 2035
   • China’s Global Electric Motorcycle Production to Drop Toward 2035, While India / ASEAN to See Expansion

Chapter 2. Electric Motorcycle Industry in Asia

1. India: New Policies and Domestic Production Are Keys to Growth
   • FAME II Accelerates the Popularization and Production of Electric Vehicles
   • Ola Electric Mobility Led Sales in 2023 for the Second Consecutive Year
   • Electric Motorcycle Production Capacity Stood at 3.44 million Units in 2023
   • Local Companies Are Actively Entering the Electric Parts Sector
   • Charging Infrastructure Is Under Development Mainly in High Income Areas
   • Future Development Depends on New Policies Covering Biofuels and Local EV Parts Production
2. Pakistan: Demand for Electric Vehicles Is Limited Due to Emphasis on Asset Value of Motorcycles
   • Fifty Percent Electric Vehicle Ratio Is Aimed in the Motorcycle Market by 2030
   • Nearly Two Dozen Manufacturers Are Licensed to Make Electric Motorcycles
   • Creation of Electric Motorcycle Market Continues, but Honda Dominates with Outstanding Asset
3. Indonesia: Limited Demand for Electric Vehicles; High Dependency on Chinese Products
   • Policies Aimed at Building an Electric Vehicle Ecosystem Are Becoming More Active
   • Introduction of Purchase Subsidies Stimulates the Launch of New Products, but Electric Motorcycle Demand Is Limited
   • Local Assembly Plans for Electric Motorcycles Are Underway, but Localization of Core Electric Parts Is Unresolved
   • Electric Motorcycle Sales to Reach 1.2 million Units in 2035, Production to Rise to 1.1 Million Units
4. Thailand: Demand for Electric Vehicles Is Small Due to Market Structure, Unclear Product Value
   • Promoting the Electric Vehicle Industry for Energy Security, Carbon Neutrality, and Innovation-based Economy
   • Electric Motorcycle Sales Doubled in 2023 to Over 20,000 Units
   • Moderate Demand Growth Is Expected Owing to Brand Power and Convenience
5. Vietnam: Purchase Subsidy System for Electric Motorcycles Has Yet to Be Introduced
   • Motorcycle Driving Regulations Scheduled to Be Introduced in Urban Areas in 2030
   • Mopeds Dominate the Electric Motorcycle Market Led by Battery Rental Company VinFast
   • VinFast Leads the Electric Motorcycle Industry amid Strong Demand for Honda’s Gasoline Products
6. Philippines: Demand for L3 Electric Motorcycles Is Increasing but Mainly for Commercial Use
   • Focusing on Fuel Efficiency to Reduce Energy Consumption in the Short Term
   • Chinese Players Are Increasing Their Presence in the Philippines, but Demand Has Yet to Expand
   • Sales of Mainly Chinese and Taiwanese Brands Are Expected to Reach 200,000 Units in 2035
7. China: Chinese Brands Dominate the Domestic Market
   • Revision of Electric Bicycle Standards Generated Large-scale Replacement Demand
   • CCCM Member Manufacturers’ Electric Motorcycle Sales Reached 6.5 Million Units in 2023
   • Electric Motorcycle Manufacturers Began to Build Smart Factories
   • Electric Motorcycle Manufacturers Aim to Reduce Costs with Graphene and Sodium-ion Batteries
   • Domestic Demand Is Expected to Decline Toward 2035, but Production Will Increase Driven by Overseas Business Expansion
8. Taiwan: All-solid-state Batteries to Lead to New Growth in Electric Motorcycle Sales
   • New Roadmap Sets a 100% Electrification Target for New Motorcycle Sales in 2040
   • Electric Motorcycle Sales to Continue to Account for Around 10% of All Motorcycle Sales
   • Local Manufacturers to Start Full-scale Overseas Business from 2024
   • Becoming a Global Production Base of Electric Motorcycles Could Be Achieved Through Realizing Mass Production of Solid-state Batteries and Cost Reduction
9. Japan: Slow Advancement of Electric Vehicle Business by Motorcycle Manufacturers
   • Few Eligible Electric Motorcycle Models for Purchasing Subsidies
   • Motorcycle Makers Pay Little Attention to the Electric Vehicle Sector

Chapter 3. Electric Motorcycle Industry in the Americas

1. United States: Electric Vehicle Sales Are Expected to Grow from 2028 Onward Supported by ZEV Regulations
   • California Mandates Sales of Electric Motorcycles by Introducing ZEM Credit Program
   • From 2028 Onward, Sales of Electric Vehicles Is Expected to Expand due to California’s ZEM and Dirt Bike Regulations
2. Brazil: Government Promotes Biofuels, Aiming for Electric Vehicle Ratio to Be 2-6% in 2035
   • Government Promotes Biofuels While Mostly Overlooks Electric Motorcycles
   • Leading Electric Motorcycle Company Voltz Is in Financial Trouble with Market Ratio of EVs Remaining at 0.54% in 2023
3. Argentina: Weakened by Economic Crisis, Demand for Electric Motorcycles Is Unlikely to Expand
   • Amid Economic Crisis, Preferential Treatment for Electric Motorcycles Receives Little Support
   • Annual Electric Motorcycle Sales Are Less Than 2,000 Units
4. Colombia: Gasoline Prices Soar, but Demand for Electric Vehicles Does Not Increase
   • Gasoline Subsidies to Be Phased Out, Concerns over Delays in Power Infrastructure Development Is Growing
   • Demand for Electric Motorcycles Is Not Stimulated Despite Rising Gasoline Prices

Chapter 4. Electric Motorcycle Industry in Europe

1. France: Demand for EVs to Increase Due to Restrictions on ICEVs
   • Purchasing Subsidies and Preferential Treatment in Urban Areas Promote Electric Motorcycle Use
   • Following Weakening Sales in 2023-2024, Demand Is Expected to Expand from 2025
2. Spain: High Prices and High Youth Unemployment Rate Are the Bottlenecks to Expanding Demand for Electric Vehicles
   • Purchase Subsidy for Electric Motorcycles to End in July 2024; Subsidy Payment to Be Sped Up
   • Manufacturers Struggle with Attracting Private Demand
3. Italy: Electric Vehicle Share Is Expected to Increase in the Long Term
   • Electric Motorcycle Purchase Subsidy Is Scheduled to Run Until 2026
   • Sales of Electric Motorcycles Decreased by 25% in 2023 Despite the Availability of Subsidies
4. Germany: Electric Vehicle Sales Remain Low As Motorcycle Market Is Dominated by Products for Leisure Activities
   • No Subsidies Introduced for Electric Motorcycles by the Federal Government
   • Sales of Electric Motorcycles Surged in 2022 Due to GHG Bonus, but Declined Sharply from 2023
5. United Kingdom: Zero Emissions for All L Category Vehicles Is Under Consideration by 2035
   • Category L1 Vehicles to Become Zero Emission by 2030
   • The Future of Zero Emission Products in the L3 Category Is Uncertain
6. Other European Countries: Electrification of Mopeds Progresses in the Netherlands and Belgium
   • Introduction of Low-emission Zones Is Expanding in Europe
   • L1e Electric Vehicle Ratio Is 60% in Belgium and 40% in the Netherlands

Chapter 5. Electric Motorcycle Industry in Other Regions

1. Türkiye (Turkey): New Women Drivers Are Pushing Up Demand for Electric Motorcycles
   • Electric Motorcycles Receive Little Government Support
   • Possibility to Become an Export Hub to the EU Is Growing
2. African Countries: Promoting the Electrification of Motorcycle Taxis Is Gaining Momentum
   • Electrification of Motorcycle Taxis Is Intended to Reduce Gasoline Import
   • Rising Interest in Swappable-battery Motorcycle Taxis