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India's electric two-wheeler sales to grow 12–13% this year, rebounding to 16–18% next year despite supply and policy challenges.
Electric two-wheeler sales in India are expected to grow 12–13% in the current fiscal year due to temporary supply chain issues, including rare-earth magnet shortages and GST changes favoring ICE vehicles, according to Crisil Ratings.
Growth is projected to rebound to 16–18% in the next fiscal year as rare-earth supply improves, driven by resumed imports from China and diversification efforts.
Despite declining subsidies and slower battery cost reductions, E2Ws remain cost-competitive, with running costs at 3 paisa per km versus ₹2–2.5 for ICE vehicles.
Legacy OEMs gained market share to 62% by January 2026, outperforming new-age brands, due to stronger dealer networks, reliability, and service quality.
Las ventas de vehículos eléctricos de dos ruedas en la India crecerán un 12-13 por ciento este año, rebotando a un 16-18 por ciento el próximo año a pesar de los desafíos de suministro y políticas.