India's Electric 2-Wheeler Sales Rise 29% in November, Ola's Market Share Drops

India’s electric two-wheeler (e2W) market has witnessed a 29 percent YoY (year-on-year) increase in November 2024, reaching 118,924 units. This surge brings the total e2W sales for the first 11 months of the year to over 1.07 million units. With electric two-wheelers accounting for 62 percent of all electric vehicle (EV) sales in India, this marks a significant milestone in the country's transition to sustainable and clean transportation.

In November, the overall EV market in India saw retail sales of 191,513 units, up by 24 percent YoY compared to the previous year. The electric two-wheeler segment led this growth, contributing 62 percent of total EV sales, a clear indication of the increasing adoption of electric mobility in the country.

Despite the overall 29 percent growth in electric 2-wheeler sales, market leader Ola Electric saw its share drop to 24.54 percent in November, highlighting the evolving competitive landscape in India's electric mobility sector.

The cumulative sales of e2Ws for the first 11 months of 2024 reached 1.07 million units, marking a 37 percent increase year-on-year. This growth places electric two-wheelers at the forefront of India’s overall EV sales, demonstrating the shift from fossil-fuel-powered vehicles to clean, green alternatives.

Read More: Ola Electric Leads Indian EV Two-Wheeler Market With Strong Margins

A Step Towards Sustainability

EVs, especially electric two-wheelers, are key contributors to sustainability and India’s efforts to achieve its Sustainable Development Goals (SDGs).

Unlike conventional vehicles that rely on fossil fuels, EVs operate without components like fuel lines and exhaust systems, which significantly reduce carbon dioxide (CO2) emissions. The absence of harmful emissions is a direct benefit to the environment, helping combat air pollution.

Moreover, if individuals integrate solar energy into households, then this transition can further offer an additional advantage for EV owners. By using solar power to charge electric two-wheelers, individuals can further reduce their carbon footprint, making a positive impact on both energy consumption and sustainability.

This aligns with SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action) supporting India’s commitment to renewable energy and sustainable transportation.

Read More: UN Report Acknowledges India's SDG Strides Amidst Challenges

PM E-Drive Scheme

The Indian government has recognised the importance of electric vehicles in achieving sustainability and has introduced several initiatives to accelerate EV adoption. Earlier this year, the Union Cabinet approved the PM E-Drive Scheme, with an investment of  Rs 10,900 crore over two years. This scheme will significantly boost the adoption of electric vehicles, including 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and 14,028 electric buses.

The PM E-Drive Scheme also focuses on building the necessary charging infrastructure, supporting the installation of 88,500 charging stations across the country. By offering subsidies and incentives worth Rs 3,679 crore, the scheme aims to encourage the widespread adoption of electric vehicles, including e-ambulances, e-trucks, and other emerging EVs.

These efforts are crucial in helping India move closer to meeting its SDG targets related to clean energy, sustainable cities and climate action.