EV sales increased to 635% in the first quarter of FY23

In the first quarter of FY23, as many as 72,474 EVs were registered in the country in June, according to the data available on the Vahan portal. This is a 547% jump, compared to the June 2021 figures. In fact, the first quarter of the current fiscal (Q1 FY23) saw the most number of Electrical Vehicle sales a massive 2,10,942 of them which is 635% higher than the corresponding quarter of FY21.

A new report by NITI Aayog and the Technology Information Forecasting and Assessment Council (TIFAC) says, “India is at the crossroads and a shift to electric mobility, particularly in the two­ wheeler segment may happen faster than expected. There is a positive mindset about electric mobility among the consumers and a recent rise in the price of petroleum fuels has played a major role in this shift.” It also notes that public awareness about EVs has also increased.

“The Indian vehicle market is majorly dominated by the two ­wheelers with more than 70 percent of the registered vehicles currently falling under this category. Thus, any effort to address problems associated with fossil fuels in the transport sector needs to have a major focus on their use in these vehicles,” it says, noting that the number of two-wheeler sales has only gone up over years.

Of all the States and Union Territories, Electrical Vehicles are most popular in Uttar Pradesh. In June, as much as 17 percent of the total EV sales happened there, according to the JMK report. “Followed by Maharashtra with 13 percent share. Karnataka retained its third spot with a 10 percent share, followed by Gujarat (8 percent), Rajasthan (8 percent), Tamil Nadu (6 percent), and Delhi (6 percent),” the report notes.

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