New Delhi. The effect of rising prices of petrol-diesel in India is now being seen on the sales of vehicles. There has been a tremendous increase in the demand for Electric Vehicles in the country in the last few days after the alternative of conventional fuel appeared in the form of electric vehicles. These EV sales figures in the first quarter of FY 2022-23 are shocking, which has come out in the new edition of the CEEW-Center for Energy Finance (CEEW-CEF) Market Handbook.
In terms of EV sales, EV sales in the first quarter of the current fiscal accounted for almost half of the total EVs sold in the previous fiscal, said Ruchita Shah, Program Associate, CEEW-CEF. . Of the total sales of two wheelers and three wheelers (including e-rickshaws), battery operated two wheelers accounted for 3.7 per cent and three wheelers 54.9 per cent. Amid rising concerns about the safety of EVs this quarter, the Bureau of Indian Standards (BIS) has released performance standards for EV batteries to ensure consumer safety. In addition, NITI Aayog released a draft battery swapping policy to reduce upfront cost and reduce space for EV charging. These measures will encourage customers to adopt more and more electric vehicles across all categories.
The CEEW-CEF Market Handbook also states that in spite of various incidents of fire, the sales of electric vehicles in the first quarter of the current financial year grew by 636 per cent over the corresponding quarter of the previous year to a little over 2 lakh units. On a quarter-on-quarter basis, EV sales grew by 18 percent. The share of EVs in the total new vehicles sold in the quarter increased to 4.35 per cent, from less than one per cent in the corresponding quarter of the previous financial year.
FIRST PUBLISHED : August 03, 2022, 16:42 IST