Electric Vehicles sales crossed one million milestone in 2023

Electric vehicles sales in India crossed one million milestones in the last three months, confirms the Society of Manufacturers of Electric Vehicles (SMEV). Overall 11,52,021 units electric vehicles registered including e-bushes,e-cars, e-three wheelers and electric two wheelers in this year FY 22-23. It is 58% more against FY 21-22.

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Among this one million electric vehicles, there are 726,970 units of high speed electric two wheelers which acquire 62% of total electric vehicles. Electric vehicles sales decreased 25 percent after the government subsidy stopped. But , this number is phenomenal. 

Also, there are 1,20,000 units of low speed electric scooter and 2,85,443 low speed e-rickshaws and around 50,000 units electric cycle was sold this year. On the other side, there are 846,976 units in FY23. 

In India, mostly E2W, electric three-wheelers sales. But after this two segments the second biggest pie at 34% with 401,841 units sold in FY23. Where electric four wheelers sales stand only 4% of total sales. 

Electric vehicles sales has impact because of govt subsidy stopped. The company did follow the rules of FAME-ll scheme. As a result, some electric vehicles like Okinawa,Ola’s price is increasing. In addition, the industry is also seeking an extension of FAME-ll subsidies by three or four years. 

Hi, I am a blogger. I am working about 2 years. I share electric vehicles news and updates.

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