Electric Two-Wheelers: Growth and Dependency on Incentives

The electric two-wheeler (E2W) market, capturing 55% of total EV sales, faces a $300-400 million EBIT loss. Government incentives like PLI and FAME are vital for sustainability. Despite Transport Minister Nitin Gadkari's stance against subsidies, many startups struggle with profitability, while established firms like Bajaj and TVS use ICE margins to offset losses.