![](\"https:\/\/im.rediff.com\/money\/2021\/apr\/22e-scooter.jpg?w=670&h=900\")
<\/p>\nIndia’s incumbent two-wheeler players, led by TVS Motors, are flexing their muscles, having crossed the registration of 10,000 electric two-wheelers for the first time in November this year, according to data from Vahan, the website of the ministry of road transport and highways.<\/p>\n
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The two key incumbent players, TVS Motors and Bajaj Auto, now account for around 15 per cent share of registrations in the month of November.<\/p>\n
The number will only go up with Hero MotoCorp now joining the bandwagon with its Vida range of electric scooters.<\/p>\n
TVS Motors’ aggressive play in the electric vehicle space is clearly reflected in the fact that they have now entered the coveted list of top five electric two- wheeler makers, with registrations hitting 7,735 in November.<\/p>\n
This amounts to a growth of 33 per cent over the previous month and is also the company’s best performance since their entry into the space.<\/p>\n
But Bajaj Auto needs to push the pedal, as its registrations as of November 30 were at 2,849 vehicles, which is a fall from October.<\/p>\n
The other good news is that concerns that the sharp increase in registrations of electric two-wheelers in October was merely due to the uptick in sales during the festival season, have proved to be unfounded.<\/p>\n
According to Vahan data, the total number of registrations of electric two-wheelers till November 30 is 72,556, showing a marginal growth from the previous month, when registrations hit 68,324 on October 30.<\/p>\n
The electric two-wheeler market was again led by Ola Electric, which registered 15,449 vehicles in November, accounting for over a fifth of the market, based on registrations.<\/p>\n
Another player to watch is Ampere, which is owned by Greaves Cotton.<\/p>\n
It has seen a substantial jump in its registrations in November at 11,523 — almost 1.7 times of what the company achieved in September when it notched up 6465 registrations.<\/p>\n
However, Okinawa was unable to hit the 100,000 e-scooter target in November. In fact, its registrations fell by nearly 42 per cent, after hitting a record number of 14,938 registrations in October.<\/p>\n
At least two electric two-wheeler makers have now registered vehicles of over 90,000 in the eleven months of 2022 — Okinawa had 95,933 registrations and Ola Electric, 91,028.<\/p>\n
Hero Electric is also within kissing distance, at 89261.<\/p>\n
Electric two-wheeler (scooters and motorbikes) makers have registered as many as 0.5 million vehicles between January and November this year, which is a four-fold increase from CY 2021, when the figure was only 130,704 registrations.<\/p>\n
Most auto experts are of the view that they will be able to hit the magic figure of 1 million registrations by 2023.<\/p>\n
Clearly, the market is also consolidating further. The top three players — Ola, Ampere and Okinawa — accounted for 50 per cent of the registrations in November, and if one takes the top five, they accounted for over 70 per cent in a segment where there are 97 players in the fray.<\/p>\n