Electric vehicle sales cross 50k-milestone

Source: https://evcd.in/electric-vehicle-sales-cross-50k-milestone/

The 50k-sales milestone achieved by electric vehicles in the country is an extremely positive development. Besides, it is a strong proof of the success of the Government’s efforts in promoting electric mobility in India. Expectedly enough, the largest growth has been witnessed by two-wheeler EVs, thanks to the contribution made by the logistics sector in this regard.    

The sale of electric vehicles (EVs) in India crossed the 50,000-milestone in January this year, as per the data collated from all the Regional Transport Offices (RTOs). The largest growth was seen by two-wheelers, which contributed to over 55 per cent of the total EV market share. This segment saw the fastest adoption of the EV technology as compared to three-wheelers and four-wheelers. One of the main reasons for this is the low cost of EV bikes and scooters. Due to their low operational and maintenance costs, the transition from petrol-based bikes/scooters to EV bikes made more sense for the consumers, as is suggested by the sales numbers.

Another reason for the rise in the sales of electric two-wheelers is their widespread adoption in the logistics sector. Brands like Bigbasket, Zomato, Swiggy and others have switched over to electric fleets in a big way, and reports say they have saved millions by making this switchover. As the operational cost of an EV remains low, business houses find these vehicles more beneficial.

• The largest growth was seen by two-wheelers, which contributed to over 55 per cent of the total EV market share. This segment saw the fastest adoption of the EV technology as compared to three-wheelers and four-wheelers.

• Brands like Bigbasket, Zomato, Swiggy and others have switched over to electric fleets in a big way, and reports say they have saved millions by making this switchover.

• Overall, the four-wheeler segment has contributed to more than 6 per cent of the total EV market share, which is very promising for the automotive industry as also for the Government.

The electric four-wheeler segment has also seen a huge jump in sales, and that’s a positive development. The rise in this segment has been primarily due the popularity of EVs like Tata Nexon, Tata Tigor and MG ZS. Overall, the four-wheeler segment has contributed to more than 6 per cent of the total EV market share, which is very promising for the automotive industry as also for the Government.

According to the break-up of the RTO data, the maximum number of EVs were sold in Uttar Pradesh (20 per cent) followed by Maharashtra (12 pc), Karnataka (10 pc) and Tamil Nadu (9 pc). The national Capital contributed to almost 7 per cent of the total number of EVs sold in the country. The latest numbers suggest that the Government’s efforts in educating the consumers about the benefits of EVs over Internal Combustion Engine (ICE)- based vehicles have paid off handsomely. The subsidies and tax benefits offered by the Government have made a huge difference in the increase in sales of EVs in India.