0 Comments The Society of Manufacturers of Electric Vehicles (SMEV) has released official sales data for EVs sold in India in FY2021. In a year badly impacted by the pandemic and resultant lockdowns, like the rest of the automotive industry, the EV sector too has felt the pressure of a slowing economy and tepid sales.
Electric two- and three-wheeler sales down 5.37 percent and 59 percent
Electric passenger vehicle sales up 110 percent (5,905 units as against 2,814 units)
Electric two-wheeler and three-wheeler sales decline Cumulative EV sales numbers for FY2021 are 2,38,120 units, down 19.41 percent year on year (FY2020: 2,95,497). Electric two- and three-wheelers, termed the ‘low-hanging fruit’ came under pressure with sales of 1,43,837 units (-5.37 percent) and 88,378 units (-37.18 percent). The bulk of the e-two-wheeler demand came from low-speed models (1,03,000 units) while 40,836 high-speed models found buyers in the
India faces two major challenges in its transition to electric vehicles
The country needs to manufacture lithium-ion batteries at scale and deal with the environmental threat posed by battery waste. Representational image. | AFP
target of generating 175 gigawatts of power from renewable energy by 2022, India has made clear its intent to reduce greenhouse gas emissions.
The government’s target to ensure that at least 15% of the vehicles in the country are electric
by 2030 is aimed at reducing vehicular pollution – transport accounts for about
11% of India’s carbon emissions – and dependence on crude oil imports.
Electric vehicles are expected to account for 30% of vehicle sales in India by 2030. Apart from environmental gains, this transition is likely to save crude oil imports worth Rs 1,07,566 crore, estimated a
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The Electric Vehicle Market is experiencing significant growth over the forecast period. This is attributed to the rising demand for high-performance and fuel-efficient vehicles, an emerging trend towards eco-friendly electric vehicles and their components, and the increasing awareness to reduce oil consumption.
The rigorous government norms regarding vehicle emission, augmenting awareness to decrease oil consumption, and rising demand for fuel-efficient and high-performance vehicles are the drivers stimulating the growth of the global
electric vehicle market. Also, the boost in investment of production of electric vehicle by leading companies like Hyundai Motor Company, Nissan Motor Company, BAIC Motor Corporation, General Motors Company, Daimler AG, and BMW Group will fuel the market growth. The surging consumer satisfaction, like home charging options for electric vehicles, along with the renewable energy sources, which include a solar photovoltaic system used to recha
Mumbai,: The EV industry sold 156,000 electric vehicles in the FY19-20. Out of this, 152,000 were two-wheelers, 3400 cars and 600 buses. The corresponding sale for the FY 18-19 was 126,000 two-wheelers, 3600 cars and around 400 buses making a total o
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