TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
More
    HomeEV BusinessEV Sales to Hit 8L-9L Units this Fiscal- A trebling of Numbers...

    EV Sales to Hit 8L-9L Units this Fiscal- A trebling of Numbers from FY21-22

    India’s EV sales are all set to hit 800,000-900,000 units this financial year — a trebling of numbers from 340,000 units in FY21-22. “Other than the fires everything that had to happen right has happened right with petrol prices going northward, critical mass of EV sales, new products with good range, and customers getting the courage to utilise the EV and we can expect a 3x to 4x growth this year with sales hitting 8,00,000-9,00,000 units up from 3,40,000 units last financial year,” said Sohinder Gill, director-general, Society of Manufacturers of Electric Vehicles (SMEV).

    Despite the fire, there is still a 45-60-day wait list for electric two-wheelers and all the big companies have 5,000-10,000 units sitting in order books.

    Already, despite a slight blip due to e-two wheeler fires, the sales have been in top gear. According to SMEV stats, sales of electric two-wheelers, three-wheelers, buses, cars and other vehicles almost doubled twice over in the January-May period from 78,903 units in 2021 to 3,17,890 units in 2022. The stats do not take into account e-rickshaws and low-speed bikes that do not require registration, so the final numbers added to the EV pool is actually larger.

    While the big jumps are on the back of low sales last year particularly since FAME 2 kicked in only early 2021, this growth also has some market triggers. “The OEMs across product categories have introduced more models and choices for customers resulting in rapid growth in adaption of electric vehicles,” said Ravi Bhatia, president, JATO Dynamics. E-mobility, he added, is on the verge of “a real breakthrough” provided there is “policy stability and investments in capability building”. What is interesting is that this 5-month vroom has come despite a drop in electric two-wheeler sales in May due to the scooter fires. From just over 42,000 units in March and just under 42,000 units in April, sales came down nearly 20% 32,600 units in May. Overall though that dip was covered by sales of other categories of vehicles as well as new launches.

    Despite the May blip, two-wheelers continued to rule the charts with sales of 198,373 in January-May 2022, up from 27,751 units in the same period last year. Three-wheelers were at 106,233 units from 46,525 units and cars were at 12,601 units compared to 3,367 units in the year-ago period. Only buses did better last year at 1,245 compared to 659 units this year.

    Related Post

    Most Popular

    Best Picks

    Veridify, Overcoming the challenges of OT security in building automation with an STM32

    Despite popular belief, it is possible to secure legacy embedded systems properly, even if they lack today’s iron-clad cryptographic capabilities, the latest protections, or...

    Tsuyo’s Vision for Future Manufacturing: Incorporating Emerging Technologies and...

    Tsuyo Manufacturing is deeply committed to offering highly reliable, robust, and durable products designed to withstand a wide range of exposure and service conditions...

    Revamp Moto’s Vision for Advanced EV Features and Industry...

    Revamp Moto is a dynamic and forward-thinking electric vehicle (EV) startup, firmly committed to providing sustainable and adaptive E-mobility solutions. Their primary focus centres...

    ST and ZF sign multi-year supply agreement for Silicon...

    Silicon Carbide technology is widely used in semiconductor material which are easy to fabricate and provides good general electrical and mechanical properties. However, it...

    Exploring Electrochemical Properties: Unraveling Battery Performance and Behavior

    Automotive Test Systems stands as a trailblazing company with an extensive and diverse background in Product Validation, Structural Testing, Data Acquisition and Analysis, Vehicle...

    WISE Testing Solutions: Comprehensive Products and Services for Vehicle...

    WISE Testing Solutions Pvt. Ltd., a privately held company registered as a limited company, aims to provide a comprehensive range of products and services...

    Anton Paar: Revolutionizing EV Battery Testing with Standardization Initiatives

    Anton Paar, a distinguished company specializing in the development, production, and distribution of precision laboratory instruments and process measuring systems, alongside delivering customized automation...

    Exploring the Challenges and Testing Methods for Electric Vehicle...

    Aimil Ltd. is an esteemed organization celebrated for its exceptional expertise spanning multiple domains such as electric vehicle battery testing (both electrical and mechanical),...

    “The core idea behind u-blox has always been to...

    u-blox develops some of the world’s leading IoT communication and GNSS modules, chips and services supporting the industrial, automotive and consumer markets. Recently Andreas...

    Must Read