Rakesh Sharma, Executive Director of Bajaj Auto, shares insights on the current and future state of the EV two-wheeler industry in India. He emphasizes the customer’s positive response towards electric vehicles and the potential growth of the industry despite the reduction in FAME subsidy. Sharma also discusses the coexistence of EVs and traditional ICE engines, the potential future decline in battery costs, and Bajaj Auto’s strategic approach to positioning itself for market changes.
Motorcycle and scooter sales in India are likely to regain their pre-pandemic peak in the next two years as strong premium-segment demand offsets the drag from weaker entry-level volumes, Diego Graffi, managing director of Italian automaker Piaggio, said. The domestic two-wheeler industry posted a year-on-year double-digit growth in 2022-23 after three consecutive years of decline. We also expect the ongoing festive season to drive great numbers for the industry. We believe the industry will regain pre-Covid volumes by 2025.
