India's Electric Two-Wheeler Adoption Exceeds 20%, Says TVS Motor Chief

India's electric vehicle penetration in the two-wheeler segment has surpassed 20%, moving well beyond previous estimates of 7%, according to K N Radhakrishnan, Chairman of SIAM Two-Wheeler CEOs Council and Director & CEO of TVS Motor Company.

Speaking during the 65th SIAM Annual Convention, Radhakrishnan said India was changing rapidly, driven not only by electrification but also by innovation and investment in research and development across two-wheeler manufacturers. He predicted that “Brand India” would establish a presence in many global markets within two years, supported by new products developed specifically for Indian customers that could find international appeal.

Three-Wheeler Segment Shows Strong Growth

The three-wheeler category has also achieved over 20% electric penetration, with combined electric two-wheeler and three-wheeler adoption exceeding 50% when including all alternative fuel variants, Radhakrishnan noted. He described significant opportunities in the three-wheeler segment, suggesting both two-wheelers and three-wheelers could position India as a global leader in sustainable mobility solutions.

Policy Support Drives Transformation

The TVS Motor executive credited the progressive policies of the Ministry of Heavy Industries and the Government of India under Prime Minister Narendra Modi's leadership for enabling rapid sector transformation.

He highlighted the impact of circular economy policies and Extended Producer Responsibility (EPR) rules as leading examples of effective government enablers for the industry.

Alternative fuel initiatives, including the transition to E20 ethanol blending and compressed natural gas adoption, along with continued investment support, were driving substantial changes in the sector, he said.

Customer-Centric Approach Essential

The SIAM council chairman stressed that customer experience must remain central to all business decisions, noting that products succeed when they meet customer needs effectively. He expressed confidence that these enabling factors would contribute to achieving Vision 2047 goals of making India a leader in sustainable mobility solutions.