THE RISE OF legacy two-wheeler giants like Bajaj Auto and Hero MotoCorp, and major EV startups such as Ola Electric and Ather Energy is hurting smaller electric scooter brands. Increasing consumer preference for premium, branded electric two-wheelers (E2Ws) is making it harder for smaller players. "The market is increasingly gravitating towards high-speed, feature-rich scooters offered by established players," said an industry expert.
Once-dominant names like Okinawa, Hero Electric, Okaya, and Pur Energy are losing ground. Data from Vahan reveals that Okinawa's sales plummeted by 85% year-on-year to 4,671 units between January and November, while Okaya saw a 61% y-o-y decline, with only 5,897 units sold.
Total E2W sales, however, have surged, crossing one million units in the January-November period, up 37% y-o-y.
This story is from the December 30, 2024 edition of Financial Express Mumbai.
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This story is from the December 30, 2024 edition of Financial Express Mumbai.
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