What are the factors for high sales growth for Ola Electric in FY23 and FY24 in India?

Ola Electric’s strong sales growth in FY23–FY24 came from launching a wider, competitively priced scooter range, rapidly expanding its direct-to-consumer network, scaling manufacturing at its Futurefactory, investing in in-house tech and battery innovation, leveraging strong branding and marketing, and benefiting from government incentives—allowing it to capture 34–35% market share despite subsidy cuts.

What are the factors for high sales growth for TVS in FY23 and FY24 in India?

TVS Motor’s strong EV sales growth in FY23–FY24 was driven by an upgraded and competitively priced iQube range, rapid expansion to 140+ cities with 200+ touchpoints, effective use of FAME-II and PLI incentives, strong manufacturing and supply chain execution, trusted brand reputation, and well-timed launches that tapped into rising fuel costs, urbanisation, and demand for sustainable mobility.

What are the factors for high sales growth for Bajaj Auto in FY23 and FY24 in India?

Bajaj Auto’s EV sales surge in FY23–FY24 was fueled by a tripling of Chetak scooter sales through new variants like the Urbane and upgraded Premium, rapid dealer expansion to 200+ outlets in 160+ cities, strong brand trust, efficient manufacturing and supply chain scale-up, effective use of FAME-II and PLI incentives, and timely positioning of Chetak as a stylish, reliable urban commuter—helping Bajaj climb to 3rd place with ~11% market share in FY24.

What are the factors for low sales growth for Ampere in FY23 and FY24 in India?

Ampere’s weak sales growth in FY23–FY24 was driven by a steep 59% drop in scooter sales (its main revenue source), the adverse impact of reduced FAME-II subsidies, and fierce competition from stronger brands like Ola, TVS, and Bajaj. Limited manufacturing scale, rising operating costs, mounting losses, and weaker brand perception further hurt performance, while growth in its electric three-wheeler segment was too small to offset the scooter slump.

What are the factors for low sales growth for Okinawa in FY23 and FY24 in India?

Okinawa’s steep decline in FY23–FY24 was driven by an 87% revenue drop as sales fell from 95,931 to 20,873 units, major fire safety incidents and stricter battery regulations, loss of consumer trust, and intense competition from stronger EV players. Financial strain worsened due to subsidy violations requiring ₹116.84 crore repayment, high procurement costs, production constraints, and shrinking scale—eroding margins and making it hard to compete in a quality-focused market.

What strategies are the top Electric two-wheeler manufacturers planning to implement to maintain or increase their market share in the coming years in India?

India’s top EV two-wheeler makers plan to grow market share through affordable new models, expanded dealer and charging networks, larger manufacturing capacity, in-house tech and battery innovation, overseas expansion, and cost-efficiency measures—while leveraging strong brands and partnerships to stay competitive.

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