Two wheeler India market outlook
The electric two-wheeler (E2W) market in India has grown by a CAGR of 62% from FY2016 till FY2020. The FY2020 sales of electric two-wheelers stood at 152,000 units, which is a marginal increase of 20% over that in the previous year. E2W space is anticipated to witness significant disruption after 2024 when the battery prices fall below $100/ kWh. This price is seen as the point around which EVs would reach at price parity with the Internal Combustion Engine (ICE) vehicles.