Other major players include Ampere Vehicles, Okinawa, Hero Electric and Hero MotoCorp’s new Vida brand. Legacy automakers like TVS, Bajaj and Hero MotoCorp are expanding their electric portfolios.
The strong growth in 2022 has come despite the centre slashing FAME subsidies in June. OEMs have benefitted from new product launches and higher consumer interest in affordable EVs amid record fuel prices.
