India saw a massive year-on-year surge in the demand for electric vehicles, with retail sales of electric two-wheelers rising by 58 per cent, passenger vehicles by 130 per cent, three-wheelers by 82 per cent and commercial vehicles by 171 per cent in March 2023, shows data shared by the Federation of Automobile Dealers Associations (FADA).
According to a report by JMK Research, the EV segment as a whole grew by 157 per cent during FY23, to 1,180,597 units, from 458,746 units a year ago. Overall EV sales in March 2023 rose by 82 per cent from the March 2022 figure, the JMK report added.
