Electric Two Wheelers to Form 50% Share of Scooter Market by 2030

Hero Moto, the country’s largest two-wheeler maker believe that electric two wheelers will form 50% share of the scooter market by 2030. Niranjan Gupta, CEO of the company, said Hero will invest INR 1,000 crore in EV business this year, while it plans to launch new electric scooters and motorcycles, including through its partnership with American brand ‘Zero’, in coming years. “We see the EV business as a marathon, and not a sprint,” Gupta said.

Currently, the share of electrics in scooters is 15%, while it is 5% in overall two-wheeler market due to near-negligible sales in motorcycles. Hero Moto had launched electric vehicles under the ‘Vida’ brand in Oct 2022, but has been relatively slow in expanding sales when compared to rivals.

In 2024, Ola Electric was the leader in electric market with sales of 4 lakh units, according to numbers released by dealers body FADA. TVS Motor followed with sales of 2.2 lakh, while Bajaj Auto managed to sell 1.9 lakh units. However, Hero Moto were only able to sell 43,695 units in 2024. The silver lining for Hero has been Ather, the electric start-up where it holds majority control. Ather sold 1.26 lakh units in 2024.