Two-wheeler and three-wheeler EV sales accounted for nearly 96% of the electric mobility market in FY21, notified the dashboard
As per the CEEW Centre for Energy Finance (CEEW-CEF), Uttar Pradesh, Bihar and Karnataka topped electric vehicle (EV) sales in the fiscal of 2021. Meghna Nair, Analyst at CEEW-CEF, said “Uttar Pradesh alone contributed 23 per cent of the country’s sales, with 31,584 EVs sold in FY21. The top 10 states together made 88% of all EVs sold in India.”
However, Tripura, Nair added, leads with the highest share of EVs per 1,000 internal combustion engine (ICE) vehicles, with 52 EVs sold for every 1,000 ICE vehicles in FY21.
The CEEW-CEF’s electric mobility dashboard highlighted that the sector registered nearly 1.35 lakh EVs in FY21. Additionally, of all vehicle registrations in the previous fiscal, 0.88% was for EVs. This is the highest share EVs has achieved till date. The Indian automobile market has registered over 6.38 lakh EVs since 2011-12.
Two-wheelers EVs on demand
Two-wheeler and three-wheeler EV sales accounted for nearly 96% of the electric mobility market in FY21, notified the dashboard.
There has been a significant shift between the demand for electric three-wheelers and two-wheelers. Having comprised 83% of the market in the year before, three-wheeler EVs made up 65% of all EV registrations in FY21.
On the flip side, two-wheeler EVs constituted 30% in FY21, having previously forming only 14% of the market (this includes only two-wheelers with speeds greater than or equal to 25 km/hr).
Interestingly, the two-wheeler EV market also saw a 1.6-fold increase in FY21, from 24,839 units sold in FY20 to 40,837 in FY21.
Arunabha Ghosh, CEO, CEEW, said, “Electric mobility is poised to be at the forefront of India’s green recovery. In the coming years, the Centre and state governments need to reduce uncertainty by rolling out detailed and clear long-term policies. Further, targeted efforts are needed to solve critical challenges such as higher upfront cost of EVs, lack of end-user financing, consumer’s range anxiety, and inaccessible charging. The CEEW-CEF dashboard provides key information of over 600 public charging stations in the country.”