The Society of Manufacturers of Electrical Vehicles (SMEV) on Thursday informed that sales of electric vehicles in India in FY 2020-21 declined by around 20% to 2,36,802. The figure was at 2,95,683 units in FY 2019-20.
Electric two and three wheelers power the battery revolution within the country but both registered a fall. While sales of electrical two-wheelers fell to 1,43,837 units, a fall of around six per cent, just 88,378 units of electrical three-wheelers were sold compared to 140,683 units in FY 2019-20. This figure, however, doesn’t think about electric three wheelers that aren’t registered with the transport authority.
SMEV Director-General Sohinder Gill is of the opinion that sales of electrical two and three wheelers may have had an impression on the general figures. “We were anticipating an honest growth before the beginning of FY21, but sales remained stagnant thanks to various reasons. The sales within the electric three-wheeler and two-wheeler segment stood low as compared to last year,” he explained.
There has been some upward movement when it involves electric passenger vehicles. As many as 4,588 units were registered as against 3,000 in FY 2019-20, a 53% rise. Electric PVs, however, are only a fraction of the whole Indian electric mobility space and while recent launches of products within the luxury space are an honest sign, the penetration remains quite low.
SMEV highlights that factors like lack of awareness about green vehicles, delay in some states to implement EV policies and lack of a robust bank finance mechanism for EVs remain a challenge although subsequent five to 6 years can see an extra boost in development of EV-related infrastructure.