The Indian electric two-wheeler industry saw a surge in sales, with November marking the highest sales month since the reduction of FAME subsidy in June 2023. Ola Electric emerged as the dominant player in the market with a 30% market share, breaking its own sales record in November. The company sold 29,808 units, surpassing its previous high of 28,728 in May 2023. Additionally, TVS Motor reported an increase in sales with 18,935 scooters sold in November. Bajaj Auto also experienced impressive growth, selling 11,681 scooters during the month. The Indian government’s announcement of a fresh infusion of ₹1,500 crore for the FAME-II program will further support the growth of the electric two-wheeler industry. This boost in sales is a positive sign for the industry and indicates a growing demand for electric vehicles in India.
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