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Retail EV sales cross 4 lakh units since April 2021

Link [2022-04-10 10:14:06]

Retail sales of electric vehicles clocked 4,29,217 units in FY22 (April 2021-March 2022), as compared to 1,34,821 units in FY21 (April 2020-March 2021) and 1,68,300 units in FY20 (April 2019-March 2020), the Federation of Automobile Dealers Association said.

Hero Electric had the highest sales in two-wheeler segment Two- and three-wheeler segments led the growth this fiscal

This increase is over 200 percent as compared to FY21 numbers and 155 percent over FY2020 numbers.  The surge in sales can be attributed to increase in the availability of products in the market, high fuel prices, state subsidies and sops offered under FAME II.

The two- and three-wheeler segments led the growth in the fiscal with sales of 2,31,338 units and 1,77,874 units, respectively. While the passenger vehicle tally was 17,802 units, 2,203 electric CVs were sold.

Two-wheeler sales

In the two-wheeler segment, the top five companies: Hero Electric (65,303 units), Okinawa Autotech (46,447 units), Ampere Vehicles (24,648 units), Ather Energy (19,971 units) and Pure Energy (14,862 units), accounted for 74 percent of the market share.

Electric two-wheeler sales in IndiaCompanyFY2022FY2020Change (in units)Change (in %)Hero Electric65,30314,77150,532342Okinawa Autotech46,4476,97239,475566Ampere Vehicles24,6485,90318,745318Ather Energy19,9714,40115,570354Pure Energy14,8622,07912,783615Ola Electric14,371014,371NATVS Motor Company9,4588378,6211030Revolt Intellicorp7,6231,7935,830325Benlign India Energy and Technology7,0841,1085,976539Bajaj Auto7,0121,4705,542377Jitendra New EV-Tech3,7886193,169512Mew Electricals2,7603272,433744Goreen E-Mobility2,7412272,5141107KLB Komaki1,882381,8444853RGM Business Plus7910791NAElthor Energy52557468821Eco Fuel Systems43948391815Booma Innovative Transport Solutions2410241NAChandana Corporation2330233NAOthers 1,159396763193Total2,31,33841,0461,90,292464

Four-wheeler sales

Tata Motors led the passenger vehicle segment with 15,198 units sold followed by MG Motor with 2,045 units. While Tata has two offerings – the Nexon and Tigor – MG Motor India has the ZS EV. Tata is updating the Nexon EV with a long-range version set to go on sale soon. Expect it to welcome more buyers to Nexon, especially considering how it will still be cheaper than other EV SUVs like the MG ZS EV. The IC-powered Nexon starts from Rs 7.42 lakh (ex-showroom, Delhi).

With fuel prices continuing to rise and EV charging infrastructure expanding its footprint, and solutions such as Battery as a Service (BaaS) becoming available, the EV segment could see further growth in the current fiscal.

Electric Passenger Vehicle Sales in IndiaCompanyFY 2022FY 2021Change (in units)Change (in %)Tata Motors15,1983,52311,675331MG Motor India2,0451,11593083Mahindra & Mahindra156946266Hyundai Motor India128183-55-30Audi74074NAJayem Automotives48426NAJaguar Land Rover India441434300BYD India39039NAMercedes-Benz30171376BMW India909NAPorsche909NAOthers22913144Total17,8024,98412,818257

Nilesh Wadhwa

Also see:

Tata Nexon EV, Tigor EV continue to lead EV sales charts