M&M Led E3W Sales, Altigreen Replaces OSM At Third Rank In August 2023

OEM wise E3W Sales August 2023
  • This is also the first time that Altigreen has surpassed the 300 mark in India
  • On the other hand, OSM has not raised any external funds so far

Mahindra & Mahindra continues to lead the electric three-wheelers (E3Ws) sales chart in India. The OEM registered 3201 E3W units in India during August 2023. In July, the OEM had registered 3064 units. Notably, while it is still at the leader podium, its Month-on-Month (MoM) growth seems to have slowed (See chart above).

With 1917 E3W registrations in August 2023, Piaggio could maintain its second position. MoM, its registrations declined as 1968 Piaggio E3Ws were registered in August 2023.

In a first, Reliance-backed Altigreen has now taken over Omega Seiki Mobility (OSM) as the third most-selling E3W Original Equipment Manufacturer (OEM) in the country. A total of 326 Altigreen E3Ws were registered in India in August 2023, while only 172 were registered during July 2023. This is also the first time Altigreen has surpassed the 300 mark in India. Notably, the company is operating in the cargo E3W segment and will launch its first passenger E3W this month.

Also Read: No Shift In E2W Sales Leaders During August 2023

Comparatively, OSM had registered 344 E3Ws in July 2023. In August, it was able to register 267 E3W units. OSM has not raised any external funds and has sold over 8,000 E3Ws in the country since its origin.

The Registrations for Euler Motors also declined MoM by around 28 units. The start-up had registered 282 E3W units in July 2023 but only managed 244 units in August 2023.

Further, Atul Auto’s registrations increased from 150 in July 2023 to 232 in August 2023. Kinetic Green Energy also saw a healthy MoM growth as its registrations went from 41 in July 2023 to 231 in August 2023.


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