The Electric Vehicle Manufacturers Association (SMEV) on Thursday reported that sales of electric vehicles in India in FY2020-21 fell by about 20% to 2,36,802. The figure was 2,95,683 units in FY 2019-20.
Two- and three-wheel-drive electricity is powering the battery revolution in the country but both registered falls. While two-wheeled electric sales fell to 1,43,837 units, a fall of about six percent, only 88,378 units of electric three-wheelers were sold compared to 140,683 units in FY2019-20. However, this figure is not a factor in three electric wheels not registered with the transport authority.
SMEV Director General Sohinder Gill believes that sales of two and three-wheel electricity could have had an impact on overall figures. “We were forecasting good growth before the start of FY21, but sales remained stagnant for various reasons. Sales in the three-wheel and two-wheel electric segment were low compared to last year,” he explained.
There has been some upward movement in electric passenger vehicles. As many as 4,588 units were registered against 3,000 in FY 2019-20, a 53% increase. However, electric PVs make up only a small portion of the entire Indian electric mobility space and while recent product launches in the luxury space are a good sign, penetration remains relatively low.
SMEV highlights that factors such as a lack of green vehicle awareness, delays in some provinces to EV impliment policies and the lack of a strong bank finance mechanism for EVs remain a challenge although the next five to six years may see a further boost in EV development. related infrastructure.