Within months of launching in 2022, Ola Electric has overtaken Hero Electric to dominate the Indian electric two-wheeler market.
According to the Vehicle Portal of the Ministry of Road Transport and Highways, Ola Electric was ranked No. 1 in April 2022.
The ride-hailing startup sold 12,683 units of electric scooters to EV OEM in April, registering a 39% MOM increase. March of this year.
Interestingly, Hero Electric saw a 50 per cent drop in its sales, selling 6,570 units in April 2022, making it the third largest electric two-wheeler market in India.
Okinawa Autotech came in second with 10,000 electric scooters last month. Vehicle data also shows that Ola’s electricity sales have been steadily rising since December last year.
Other electric two-wheeler brands, Empire and Athar, will be in the top five and fifth place in terms of sales in April 2022.
Ola Electric’s credit comes at a time when the company’s image is fading as videos of Ola Electric scooters go viral.
Interestingly, Hero Electric is a brand that is out of the EV Fire controversy, while brands like Ola, Pure EV and Okinawa are caught in the middle of this fire.
Hero Electric’s sales fell significantly after reporting wholesale sales of about 13,000 units in March this year, down from half last month.
Semiconductor problems are one of the main reasons for the delay in production and delivery delays in the Electric Two Wheeler brand. This ultimately affected the company’s overall sales in April 2022.
A similar downturn is likely in May as the semiconductor crisis continues to wreak havoc on automated supply chains and manufacturing.