EV sales recharge in Oct, cross 2L mark

Chennai: The festive season in October, coupled with improved consumer sentiment, has given a much-needed boost to electric vehicle (EV) sales, which have crossed the two-lakh mark and are inching closer to the highest monthly volume recorded in March, with two days still remaining in the month. The strong performance comes despite lingering challenges such as magnet supply constraints and the recent GST cut for ICE vehicles.

As of Oct 29, total EV registrations (including all segments of battery-operated vehicles) stood at about 2.04 lakh units, marking an 11% sequential increase after reporting a M-o-M decline for two consecutive months.