EV sales in India cross 210,000 units in Q1, charge towards new record in FY2023
Increased availability of EVs across segments, high petrol, diesel and CNG prices, state subsidies and sops under FAME II and also growing consumer awareness for eco-friendly transport are driving growth.
09 Jul 2022
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If the green shoots of retail recovery across segments are evident in the 27% year-on-year growth in the IC engine-powered automobile industry in the first quarter of FY2023, what’s also evident is the massive surge in demand for their truly eco-friendly and green siblings – electric vehicles (EVs).
On-ground retail sales data, gleaned from FADA President Vinkesh Gulati’s recent tweets reveal that cumulative EV sales across four segments – cars, two- and three-wheelers and commercial vehicles – have soared by an estimated 686% to 211,398 units in the April-June 2022 period (Q1 FY2022: 26,833 units).
These numbers, ...
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