Nearly 1.35 lakh EVs Sold in India In FY2021: CEEW-CEF Report

India's electric mobility sector is gradually recovering after a dip in sales due to the COVID-19 lockdown last year. Nearly 1.35 lakh EVs were sold in FY21 in India, according to data published by the Centre for Energy Finance(CEF) of the Council on Energy Environment and Water (CEEW). According to the CEE-CEF's electric mobility dashboard, EV registrations have accounted for 0.88 per cent of overall vehicle registrations in the last financial year which is the highest share ever achieved. The Indian auto sector has registered over 6.38 lakh EVs since 2011-12. The mobility dashboard indicates that two-wheeler and three-wheeler EV sales accounted for nearly 96 per cent of the electric mobility market in FY21.

According to the CEEW, the four-wheeler segment in EV is expected to grow rapidly with over 23 new electric car models scheduled for launch by FY2022. The dashboard also highlights that a consumer shifting from a petrol-run sedan to an electric sedan in Delhi-NCT could save nearly Rs. 30,000 annually in operational expenses.

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Three-wheeler EVs accounted for 65 per cent of all EV registrations 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 Central 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."

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The four-wheeler segment is expected to grow rapidly.

Three-wheeler EVs accounted for 65 per cent of all EV registrations in FY21, down from 83 per cent of the market in the year before. Two-wheeler EVs, on the other hand, contributed 30 per cent to all EV registrations in FY21, up from 14 per cent last year. Moreover, the two-wheeler EV market saw a 1.6 fold increase in FY21, from 24,839 units sold in FY20 to 40,837 in FY21. Then the four-wheeler segment is expected to grow rapidly with over 23 new electric car models scheduled for launch by FY22.