India’s EV sales are all set to hit 800,000-900,000 units this financial year — a trebling of numbers from 340,000 units in FY21-22. “Other than the fires everything that had to happen right has happened right with petrol prices going northward, critical mass of EV sales, new products with good range and customers getting the courage to utilise the EV and we can expect a 3x to 4x growth this year with sales hitting 8,00,000-9,00,000 units up from 3,40,000 units last financial year,” said Sohinder Gill, director-general, Society of Manufacturers of Electric Vehicles (SMEV).
Despite the fire, there is still a 45-60-day wait list for electric two wheelers and all the big companies have 5,000-10,000 units sitting in order books.
Already, despite a slight blip due to e-two wheeler fires, the sales have been in top gear. According to SMEV stats, sales of electric two wheelers, three wheelers, buses, cars and other vehicles almost doubled twice over in the January-May period from 78,903 units in 2021 to 3,17,890 units in 2022. The stats do not take into account e-rickshaws and low-speed bikes that do not require registration, so the final numbers added to the EV pool is actually larger.
