Electric vehicle sales rise amid skyrocketing petrol, diesel rates

NEW DELHI: If rising fuel prices are having a favourable impact on anything, it is the country’s small but fast-growing electric vehicle (EV) industry. According to industry executives, the current momentum is likely to continue as there are no signs of any major relief in retail fuel prices in the near future.

“During the last quarter, we witnessed a 30 per cent increase in sales, largely attributed to the hike in petrol prices. Moreover, the number of enquiries has grown by 300 per cent during the same time period,” Jeetender Sharma, MD & Founder of India’s second largest electric two-wheeler maker Okinawa told The New Indian Express.