Copyright FOURIN, Inc. 2023
India’s Electric Motorcycle Market in 2021
India’s electric motorcycle market is rapidly expanding. In 2021, In 2021, new registration of electric motorcycles surged to 143,284 units, a 5.3-fold increase from the previous year (newly registered electric motorcycle data released by VAHAN). Sales of electric motorcycle in 2019 and 2020 were less than 30,000 units, but the pace of expansion skyrocketed from the latter half of 2020, exceeding 100,000 units for the first time in 2021. Demand was driven by increased government subsidies, expanding product lineup on the market and rising fuel prices.