India charges ahead on the global electric vehicle map, shows Gartner data

Electric buses and vans will record 0.2 million shipments each in 2023, according to the forecast for this year

A total of 15.4 million electric vehicles (EVs) will be shipped globally in 2023, with cars accounting for 97.1 per cent of the market, according to a forecast by research firm Gartner.

This data was released ahead of World EV Day, which falls on September 9.

The forecast for 2023 indicates that electric buses and vans will record 200,000 shipments each. Total shipments are expected to reach 18.5 million in 2024 (Chart 1).

EV sales in India are on the rise, according to data from JMK Research. Sales increased by 173.6 per cent to 1.25 million in 2022–23 (FY23), up from 460,000 in the previous year. In 2018-19, the figure was 150,000.
 

Registered electric two-wheelers account for the majority of the market share, totalling 48.8 per cent cumulatively until FY23.

Between 2013-14 and FY23, Uttar Pradesh accounted for the highest sales at 20.6 per cent, followed by Maharashtra (10.2 per cent), Delhi (8.9 per cent), Karnataka (8.5 per cent), and Rajasthan (6.4 per cent),
 

Data from the report reveals that Ola Electric recorded the highest two-wheeler sales at 21.2 per cent in FY23.

In the three-wheeler segment, Mahindra Electric accounted for the highest market share at 9 per cent.

In the car segment, Tata Motors held a share of 79.3 per cent, while PMI Electro Mobility Solutions led in the bus category with a 31.5 per cent share.