Electric vehicle sales in India crossed the one million mark for the first time last fiscal, the two-wheeler segment leading the way. The Society of Manufacturers of Electric Vehicles (SMEV) stated that the EV industry as a whole registered 11,52,021 units, which was 58 percent more than FY22's 7,26,861 units.
Of all the electric vehicles, high-speed two-wheelers recorded the largest sales in FY23 at 7,26,976 units or 62 percent. However, EV two-wheelers' adoption dropped month-on-month, ending the annual shortfall of over 25 percent over NITI Aayog's minimum target.
In FY17, 27,888 electric two wheelers were sold, and in FY22 the sales stood at 3,28,000.
Electric three wheelers sales took the second spot at 34 percent with 4,01,841 units, whereas just 4 percent or 47,217 units of four-wheelers were sold and electric buses stood at 1,904 units or 0.16 percent.
Also Read: Bajaj Auto to now manage Triumph bikes sales in India
Of all the electric vehicles, high-speed two-wheelers recorded the largest sales in FY23 at 7,26,976 units or 62 percent. However, EV two-wheelers' adoption dropped month-on-month, ending the annual shortfall of over 25 percent over NITI Aayog's minimum target.
Other than this, the sales of two-wheelers also included as many as 120,000 low-speed e-scooters, as well as 2,85,443 low-speed e-rickshaws and about 50,000 e-cycles. All of this brought the total number of low and hi-speed two-wheeler sales in FY23 to 8,46,976 units.
In FY17, 27,888 electric two wheelers were sold, and in FY22 the sales stood at 3,28,000.
Electric three wheelers sales took the second spot at 34 percent with 4,01,841 units, whereas just 4 percent or 47,217 units of four-wheelers were sold and electric buses stood at 1,904 units or 0.16 percent.
Also Read: Bajaj Auto to now manage Triumph bikes sales in India
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