India gets high-demand for EV 2 wheelers, but Ola experiences a dip

According to a recent report, electric vehicle (EV) adoption in India’s two-wheeler (2W) sector has seen a significant boost over the past two months, despite the incentives being nearly halved in April. This shift has led to notable market changes: Ola Electric experienced a drop in market share, while TVS Motor Co Ltd (TVSL) recorded a gain. The electric 2W penetration and volumes recovered and it is now higher than that of FY24, according to the report by BNP Paribas India.