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.
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.
