BMW CE 02 Electric Scooter Enters India’s Thriving EV Market – Pre-Bookings Begin
As India’s electric vehicle industry gains momentum, BMW has announced the beginning of booking for its ‘CE 02 Premium electric scooter’ across the country. With the announcement, BMW has stated that CE 02 will be the most accessible electric two-wheeler, especially for consumers in urban areas which is observed to be priced anywhere between 4-6 lakhs.
Electric Scooters Market Size
The global electric scooters market size is calculated at USD 40.92 billion in 2024 and is estimated to reach around USD 88.75 billion by 2032, representing a compound annual growth rate (CAGR) of 10.16% from 2023 to 2032.
India Electric Vehicle Market Size
According to Precedence Research’s report on “India Electric Vehicle Market’, India’s electric vehicle market size accounted for USD 11.36 billion in 2024 and is predicted to be worth around USD 1,053.10 billion by 2034, growing at a solid CAGR of 57.3% from 2024 to 2034.
By 2030, India is expected to see over 10 million electric vehicles on the road, reflecting the nation’s commitment to reducing carbon emissions and transitioning to sustainable transportation. To support the fact, the Indian government has set a target to reduce the carbon intensity by 45% by 2030. With urban centers showing a growing demand for electric two-wheelers, BMW’s CE 02 enters the market at a pivotal time, poised to capture the interest of eco-conscious consumers seeking premium mobility solutions.
As the market expands in India, BMW, with launch of multiple models has set a target to account for 25% of its sales of electric vehicles by 2025 to be from India. The German automaker has sold 1,474 electric cars in 2023 while reaching up to 10% of its total sales in India.
Indian Government Subsidies for Electric Vehicles
| State | Subsidy (Per KWh) | Maximum Subsidy | Discount on road tax |
| Maharashtra | ₹5,000 | ₹2,50,000 | 1 |
| Assam | ₹10,000 | ₹1,50,000 | 1 |
| Gujarat | ₹10,000 | ₹1,50,000 | 0.5 |
| West Bengal | ₹10,000 | ₹1,50,000 | 1 |
| Meghalaya | ₹4,000 | ₹60,000 | 1 |
| Bihar | ₹10,000 | ₹1,50,000 | 1 |
The Indian electric vehicle market has seen a massive surge in 2023 where multiple large-scale automotive manufacturers actively participated in the development of the market. Stating the number of electric vehicle sales in India, specifically two-wheelers, Bajaj Auto sold 36,260 EVs in FY2023. In the same year, Ola and TVS sold 1,29,866 and 81,290 electric two-wheelers respectively.
India’s EV Production Capacity
A recent report from Precedence Research reveals that, India’s EV production capacity is projected to grow by 38% in 2024, reflecting the nation’s ambition to achieve net-zero emissions by 2070.
In 2023, EV sales in India reached approximately 1.17 million units, a significant jump from the previous year’s 850,000 units. Furthermore, electric two-wheelers account for the majority of these sales, contributing over 70% of the total volume. Production is also scaling rapidly, with major players like Tata Motors and Mahindra expanding their manufacturing capacity to meet the rising demand.
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