Two-wheeler companies target nine-fold increase in electric vehicles

Top Indian two-wheeler companies are ramping up new capacity to hit over six million per annum by the calendar year 2023 to meet the anticipated demand for electric vehicles

Top Indian two wheeler companies, including start-ups and legacy ICE manufacturers, are ramping up new capacity to hit over six million per annum by calendar year 2023 to meet the anticipated demand for electric vehicles.

Estimates by Goldman Sachs indicate that the current capacity is around 0.67 million which means that the six million target represents a nine-fold increase in overall capacity. This does not include the capacities which Hero MotoCorp plans to build and which TVS Motor wants to expand.

One of the biggest companies which is building new capacity is Ola Electric which is initially close to completing a two