Electric Vehicle Sales in India Increase By Three Times In First Half Of FY22: Report

The EV industry in India has changed a lot in the last year. Sales of electric vehicles in the country are on the rise. Although the base of the industry is not as deep-rooted yet, the interest in buying EVs has significantly increased. As per a report in the Economic Times, EV sales have sky-rocketed by three times in the first half of the ongoing fiscal.

More than 1.18 lakh EV units were sold in H1 FY22. This comprises 58,264 electric 2-wheelers as well as 59,808 three-wheelers. Additionally, the sales growth of ICE (internal combustion engine) cars has dipped.

ET quoted a report in the Centre for Energy Finance at Council on Energy, Environment and Water at Centre for Energy Finance (CEEW-CEF).

Overall there is a surge in EV demand and supply in coiuntry. Reasons driving sales have been attributed to many factors including customer outreach, falling battery prices, improved charging infrastructure, and of course the rising fuel

In April, Union Minister Nitin Gadkari ahad claimed that India will become the number one EV maker in the world in a few years. “India is moving ahead towards making electric vehicles. In due course of time we will be the number one electric vehicle maker in the world. All reputed brands are present in India. E mobility will be the important tool to develop pollution-free transport," Gadkari had said.

Not just in India, EV sales have seen phenomenal growth across the globe. In Europe, for example, in August 2021 the sale of EVs was more than diesel cars. The EVs included both hybrids and 100% electric models.

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The report, which collated data from 26 European countries, said that vehicles powered by gasoline were still topping the sales charts with close to 56% market share. The real change though was the fact that EVs at 21% were now ahead of diesel engines which were stuck at 20%.

In Europe, Volkswagen’s ID.3 was ahead in terms of EV sales with 7,904 units sold but Tesla Model was a close second at 7,824 units.

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