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Electric vehicle sales cross 1-mn units in India, register growth of 58%

Two-wheelers are the biggest contributors, at 62% of total EV sales in the country

Kia, EV, Electric Vehicle

A Kia EV9 electric vehicle displayed at the India Auto Expo 2023

BS Web Team New Delhi

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Electric vehicle sales in India have crossed the milestone of one million units in FY23, reports The Times of India (ToI). Citing data from the Society of Manufacturers of Electric Vehicles (SMEV), the report said that overall the EV industry registered sales of 1,152,021 units.

This number includes e-buses, e-cars, e-three-wheelers, and e-two-wheelers sold in the FY23. Notably, sales last fiscal year stood at 726,861 units. There has been an effective growth of 58 per cent in electric vehicle sales in the country, the report said.

Two-wheelers are the biggest contributors, at 62 per cent of total EV sales in the country. A total of 726,976 e-two-wheelers were sold in FY23. Electric three-wheelers comprised the second-biggest portion of the electric vehicle sales, registering 401,841 units.

 

Sales of electric four-wheelers stood at 47,127 units, whereas electric buses represented a mere 0.16 per cent of the total EV sales with just 1,904 units sold.

The electric vehicle industry has raised its concern over the discontinuation of FAME2 subsidies to companies that were unable to comply with the localisation eligibility. Industry experts have said that the suspension of the subsidy has had an adverse impact on sales.

The SMEV issued a statement saying, the sales of EV "fell after the festive season not because of consumer demand but the sudden withholding of more than the Rs 1,200 crore subsidy already passed on by the majority of OEMs to the customers on the pretext of delay in the localisation."

The industry seeks an extension of the eligibility criteria by two years and an extension of the FAME scheme for another 3-4 years, according to the report.

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First Published: Apr 11 2023 | 11:34 AM IST

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