Electric two-wheeler sales are expected to grow significantly in the coming years. According to a report, sales of electric two-wheelers are expected to grow 24 times their current volumes in India by the year 2030.
This growth is attributed to supportive government policies, such as the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme, which has incentivized 7.1 lakh EVs and sanctioned 7,210 e-buses. Additionally, the Economic Survey 2022-23 reports that India's electric vehicle market is expected to reach one crore units annual sales by 2030, creating 5 crore direct and indirect jobs.
This growth in the electric two-wheeler industry, along with the increased sales of auto components, will contribute to the expected growth from 8 lac units to 2.2 crore units by 2030.
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