✅ The whole EV industry cumulatively sold ~1 million electric two wheelers last year, whereas sales of just Hero Splendor was ~3.2 million and Honda Activa sales were ~2.1 million last year . 👉 So yes, still a long road ahead for EV adoption even in two wheeler segment (no pun intended :)) ✅ The IC powered two wheeler industry was built over a time of three to four decades by legacy manufacturers Hero MotoCorp, Honda Motorcycle & Scooter India Pvt. Ltd. , Bajaj Auto Ltd, and TVS Motor Company still has a huge sales momentum ! Here's a closer look at their financials to understand their growth trajectory in the last decade.
Well written Siddhesh Gosavi. Although I'd say looking at the CFO and coverage ratios is significantly more important.
Sanjeet Salunke
3mo
EV adoption is catching up. We're seeing new EVs being launched every quarter. With better charging infrastructure, high density batteries and longer range, EV growth is inevitable.
Insightful!!!
Sai Vishal Pynda
3mo
Interesting insights! The EV two-wheeler industry certainly has a long way to go, especially when compared to the established legacy players in the IC-powered segment. It’s impressive to see the momentum behind companies like Hero MotoCorp, Honda, Bajaj, and TVS, and it will be exciting to watch how the EV sector evolves in the coming years. Looking forward to seeing how these dynamics unfold!
Technical Trainer & EV Specialist | HV Safety Professional I Battery Pack Development | Fuel Cell & Hydrogen Vehicle | Bridging Industry & Academia I
3moHi Siddhesh, In the revenue projection, Revenue of Bajaj and TVS continue to increase over the last 8 years. TVS even outsmart Hero in revenue this year. But when it comes to profit margin, TVS is still at the bottom of the chart. Any findings on why the profit margin is low for TVS and high for Bajaj?