Electric Vehicle Sales Clocked a Record One Million Units in 2022

EVs accounted for 4.7% of overall automobile sales


Electric vehicle (EV) sales in India reached a record one million units in 2022, a jump of over 300% against the 322,877 units sold in 2021.

EVs accounted for 4.7% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard. The numbers do not include data for Telangana and Lakshadweep.

Monthly EV sales had exceeded 100,000 units in October for the first time ever with the trend following in November and December.

India has over 1.88 million registered EVs.

Electric two-wheelers

Out of the total EVs sold, nearly 62% (624,192) were electric two-wheelers. Ola Electric had the highest number of sales in this category with 109,241 units, followed by Okinawa Autotech with 101,612 units. Other significant electric two-wheeler companies in the market include Hero Electric (96,389 ), Ampere (79,137), and Ather (51,720).

Electric three-wheelers

Nearly a third of all EVs sold in 2022 were electric three-wheelers. YC Electric had the highest sales at 27,880 units, followed by Saera Electric with 18,456 units. Mahindra Reva Electric Vehicles (15,448), Dilli electric (13,173), and Champion Polyplast (12,695) were the other major electric three-wheeler companies in the market.

Electric four-wheelers

Electric four-wheelers (cars) represented 3% of the total sales at 32,853 units. Tata Motors was the most preferred automobile maker with 25,760 units sold, followed by MG Motors with 3,324 units. Other significant electric four-wheeler companies in the market include Hyundai (606), BYD (354), and Mahindra (212).

India is aiming for EVs to make up 30% of its transportation needs by 2030. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program, along with state subsidies and a wider range of options for consumers, have contributed to the rising sales. There is also an increased awareness among consumers about the benefits of using environmentally friendly modes of transport.

Several states, including Rajasthan, Chhattisgarh, Chandigarh, Assam, Maharashtra, Delhi, and Gujarat, have introduced policies that have led to the increased adoption of EVs.

The EV industry is expected to see strong growth in 2023 due to the availability of more models and increasing fuel costs.