EV sales surge on subsidies, rising fuel cost

Chennai: A combination of factors, lower prices due to enhanced subsidies, rising fuel prices has catapulted demand for premium scooters. Ola received bookings for 1 lakh scooters in just 24 hours, Revolt’s entire July bookings were sold out in 10 minutes flat, Hero Electric’s Optima, which used to sell 1,500 units per month saw 8,000 units sold in the last 4 weeks. According to the Society of Manufacturers of Electric Vehicles, the e-two wheeler category which sold 1,43,000 units in FY20-21, sold a mere 25,000 units in Q1 of this fiscal due to the Covid induced second wave lockdown. But in the nearly five weeks since the new subsidies made mid-range and premium e-two wheelers like the Hero Optima, Okinawa Praise Pro and Ather 450X and the Ampere Magnus and Zeal cheaper by Rs 18,000-Rs 20,000,