Rising fuel prices and an uptick in sales especially in the cargo segment thanks to the demand for higher uptime have contributed to sales.
While the overall three-wheeler segment de-grew by almost 4 percent in FY22, the electric three-wheeler segment grew by more than 240 percent. The overall three-wheeler sales numbers were 83,218 units while the electric three-wheeler segment wholesales trebled from around 7,000 units in FY2021 to 23,000 units in FY2022.
Mahindra & Mahindra which sold more than 16,000 electric three-wheelers continues to be the market leader with a 73 percent share. According to the company, the Treo also became the first lithium-ion electric three-wheeler platform to cross more than 18,000 sales since its launch in 2018.
Suman Mishra, CEO, Mahindra Electric Mobility said, “I am delighted that over this past year, we have significantly expanded our EV footprint while reducing pollution and contributed to the government’s vision of sustainable development.”
Piaggio sold more than 4,400 units of its Ape' cargo and passenger e-three-wheeler range. Atul Auto reported sales of more than 1,700 units for its e-3W range. Rising fuel prices and an uptick in sales especially in the cargo segment thanks to the demand for higher uptime have contributed to sales.
In addition to established players, startups like Omega Seiki Mobility, Etrio, Euler Motors and Gayam Motor Works, among others too are looking to drive the growth momentum in the segment.
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