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Electric vehicle sales in India, already record high, could reach 6 lakh by March 2023


Electric vehicles in India are slowly becoming part of the mainstream with sales increasing year on year. 2022 has been a landmark year for electric vehicles in India in terms of sales, surpassing the previous best achieved in 2021. Since April this year, Indians have brought home the country. More than 40,000 electric vehicles, including two-wheelers and three-wheelers, help in the rapid increase of electric vehicle sales in the country.

Via:
Car table HT

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Update on:
14:10 pm on December 21, 2022

Tata Motors, the leader in the passenger electric vehicle segment in India with more than 90% market share, is one of the major electric vehicle manufacturers that has helped boost electric vehicle sales in the country.
Tata Motors, the leader in the passenger electric vehicle segment in India with more than 90% market share, is one of the major electric vehicle manufacturers that has helped boost electric vehicle sales in the country.

As of December 9, this year, nearly 4.43 thousand electric vehicles have been sold in India. It stands in stark contrast to the 48,179 electric vehicles sold in the country during the 2020s and 2021s of Covid. It is also significantly higher than the fiscal year 2021-22 when nearly 2.38 thousand electric vehicles were sold in the country. October is the month with the largest electric vehicle sales, with over a thousand units sold during the festive month alone. With at least three months to go, the electric vehicle industry is looking at its goal of reaching nearly 600,000 electric vehicles on the road, a staggering growth of nearly 60%.

Mahendra Nath Pandey, Minister of Heavy Industry, informed Lok Sabha recently that the Center has launched a Plan for Faster Electric Vehicle Adoption and Production in India Phase II, or FAME India Phase II. , a plan to promote the use of electric and hybrid vehicles. This will make electric vehicle adoption faster nationwide through incentives.

Tata Motors, one of India’s leading electric vehicle manufacturers, is leading the four-wheel electric vehicle segment with a 90% market share. So far, the automaker has sold more than 36,000 electric cars this year. It aims to reach nearly 50,000 EVs by the end of 2022, a record in itself. Its newest electric car, tiago EV, promises to boost Tata’s record of EV sales even further with over 20,000 pre-orders within the first six weeks of launch.

Ola Electric has been the biggest gainer in the electric two-wheeler segment this year and is currently leading the segment with dominance equal to Tata Motors in the four-wheeler segment. It claims to have delivered more than 90,000 units between April and November of this year, with almost 50% of those being in the past two months.

Date of first publication: December 21, 2022, 14:10 pm IST

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