Sales of electric vehicles (EVs) in the country could surpass the 10-lakh (one million) mark in 2022, according to the Indian government’s data but this may not slow down the demand for petrol and diesel passenger vehicles in the near-to-medium term.
EV sales figures from Vahan database
According to data from the Union road transport ministry’s Vahan database, 9.95 lakh (995,000) electric vehicles have been registered in the country so far in 2022. In comparison, this is a 3x rise from 3.22 lakh (322,000) in 2021 and around eightfold surge from 1.21 lakh (121,000) in 2020.
.jpg "India EV sales to cross 1 million in 2022") |
| Tata Motors presented the 50,000th Nexon EV to Tata Group chairman N Chandrasekaran. |
The data, however, excludes registrations from Telangana. If the state’s figures were counted, registrations would have easily crossed the 10-lakh figure.
Accordingly, a total of 19.28 lakh (19,28,000) EVs have been registered so far from the time recording in the database commenced.
The biggest drivers for this growth were EV fleet operators and people buying two-wheelers. Among the automakers that benefited from this growth include Tata Motors, Ola Electric as well as Ather Energy.
Tata Motors EV sales cross 50,000
Shailesh Chandra, managing director (MD) of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, “Our aggressive strategy in the electric vehicle space helped us become the first Indian automaker to surpass the 50,000 EV sales mark this year.”
He added that a litany of new EVs rolled out by auto firms, growing acceptance of electric cars, and stringent emission regulations that are prompting auto companies to adopt EVs at a quick pace are all aiding the growth of electric vehicles, said Chandra.
Tata Motors posted on its Twitter handle, “Immensely proud as we deliver our 50,000th EV, the Tata Nexon electric, to the Chairman of Tata Group Mr N Chandrasekaran. What started as his vision has changed the way India perceives mobility. This was indeed a special delivery for us at Tata Motors. Here’s to many electrifying miles that lie ahead.”
On the overall EV sales numbers, Hero Electric chief executive officer (CEO) Sochinder Gill said, “The growth momentum in the electric two-wheeler space has been positive during the last few months.”
In the next few years, there would be more electric two-wheeler roll outs at competitive prices. This would further spur their adoption, Gill added.
EV retail sales in India see a fall from November
Retail vehicle sales — including electric and fossil fuel — stood at 15.37 lakh (15,37,000) units in December. This is a steep fall from the nearly 24 lakh units (24,00,000) during the previous month.
By around 2030, the government sees EVs making up 30 per cent of all private cars, 70 per cent of commercial vehicles and 80 per cent of two as well as three wheelers.
In fact, sales of electric two-wheelers in the country could skyrocket 24 times from their current level to 17.69 million units by 2030, a report by venture capital firm Blume has stated.
E-Vroooom’s views
So, even as EV adoption sees a surge, the demand for internal combustion engine (ICE) vehicles will remain strong in the short-to-medium term as buyers are still wary about electric vehicles, given the possibility of battery fires that have dented their reputation.
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