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Explained: Why electric vehicle sales saw a three-fold rise last year

The sale of retail electric vehicles saw a three-fold jump in 2021-22 (April-March), data from the Federation of Automobile Dealers Associations showed. Which kind of EVs are selling the most? Why have sales picked up during the year?

A lot of brands have been bringing in electric vehicles to the Indian market recently seeing the spike in sales. (Express Archive)

The sale of retail electric vehicles (EV) saw a sharp three-fold jump in 2021-22 (April-March), data from the Federation of Automobile Dealers Associations (FADA) showed. In 2021-22, 4.29 lakh electric vehicles were sold, compared to only 1.34 lakh last year, and 1.68 lakh in 2019-20.

We take a look at which are the kinds of EVs that are pushing the sales and also the reasons behind it.

Which kind of electric vehicles are selling the most?

The data from FADA showed that electric two-wheelers make up the bulk of the numbers. During the financial year that just ended, 2.31 lakh electric two-wheelers were sold, compared to just 41,046 units a year ago. Among the brands, Hero Electric Vehicles Pvt Ltd sold the most electric two-wheelers, clocking 65,303 units during the year, followed by Okinawa Autotech Pvt Ltd at 46,447 units, Ampere Vehicles Pvt Ltd at 24,648 units and Ather Energy at 19,971.

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Are people buying electric four-wheelers as well?

Yes. Electric passenger vehicles also saw a 257% growth in sales, albeit over a small base. During 2021-22, 17,802 units were sold, FADA said, compared to 4,984 the year before. A major chunk of this was sold by Tata Motors, which has the Tigor and Nexon EV products in its portfolio. The company sold 15,198 units during the year, followed by MG Motor India at 2,045 units and Mahindra & Mahindra at 156 units.

Are there other types of EVs?

During 2021-22, 1.78 lakh electric three-wheelers were sold as against 88,391 in 2020-21 and 1.41 lakh in 2019-20. While YC Electric Vehicle leads the figures, selling 17,049 units, it is followed by Saera Electric Auto Pvt Ltd at 8,475 units and Mahindra Reva Electric Vehicles Pvt Ltd at 8,037 units.

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Notably, FADA said that the three-wheeler market is seeing a tactical shift from internal combustion engines to electric ones as 45 per cent of the three-wheeler market has now shifted to EVs.

Why have sales picked up during the year?

A concerted push by the government and expanding footprint of the charging infrastructure has led to the growth in EV sales during the year. Added to this was the sustained increase in prices of automobile fuels, such as petrol and diesel. Going ahead, with services such as battery swapping, battery-as-a-service (BaaS) setting in, sales in the segment could see further growth.

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First published on: 11-04-2022 at 01:55:09 pm
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