HomeAutomobilesElectric vehicle retail sales cross 4 lakh units

Electric vehicle retail sales cross 4 lakh units



Tata Motors leads the passenger vehicle sales with over 15,000 units sold since March 2021.

Retail sales of electric vehicles clocked 4,29,217 units in FY22 (April 2021-March 2022), as compared to 1,34,821 units in FY21 (April 2020-March 2021) and 1,68,300 units in FY20 (April 2019-March 2020), the Federation of Automobile Dealers Association said.

  • Hero Electric had the highest sales in two-wheeler segment
  • Two- and three-wheeler segments led the growth this fiscal

This increase is over 200 percent as compared to FY21 numbers and 155 percent over FY2020 numbers.  The surge in sales can be attributed to increase in the availability of products in the market, high fuel prices, state subsidies and sops offered under FAME II.

The two- and three-wheeler segments led the growth in the fiscal with sales of 2,31,338 units and 1,77,874 units, respectively. While the passenger vehicle tally was 17,802 units, 2,203 electric CVs were sold.

Two-wheeler sales

In the two-wheeler segment, the top five companies: Hero Electric (65,303 units), Okinawa Autotech (46,447 units), Ampere Vehicles (24,648 units), Ather Energy (19,971 units) and Pure Energy (14,862 units), accounted for 74 percent of the market share.

Electric two-wheeler sales in India
Company FY2022 FY2020 Change (in units) Change (in %)
Hero Electric 65,303 14,771 50,532 342
Okinawa Autotech 46,447 6,972 39,475 566
Ampere Vehicles 24,648 5,903 18,745 318
Ather Energy 19,971 4,401 15,570 354
Pure Energy 14,862 2,079 12,783 615
Ola Electric 14,371 0 14,371 NA
TVS Motor Company 9,458 837 8,621 1030
Revolt Intellicorp 7,623 1,793 5,830 325
Benlign India Energy and Technology 7,084 1,108 5,976 539
Bajaj Auto 7,012 1,470 5,542 377
Jitendra New EV-Tech 3,788 619 3,169 512
Mew Electricals 2,760 327 2,433 744
Goreen E-Mobility 2,741 227 2,514 1107
KLB Komaki 1,882 38 1,844 4853
RGM Business Plus 791 0 791 NA
Elthor Energy 525 57 468 821
Eco Fuel Systems 439 48 391 815
Booma Innovative Transport Solutions 241 0 241 NA
Chandana Corporation 233 0 233 NA
Others 1,159 396 763 193
Total 2,31,338 41,046 1,90,292 464

Four-wheeler sales

Tata Motors led the passenger vehicle segment with 15,198 units sold followed by MG Motor with 2,045 units. While Tata has two offerings – the Nexon and TigorMG Motor India has the ZS EV. Tata is updating the Nexon EV with a long-range version set to go on sale soon. Expect it to welcome more buyers to Nexon, especially considering how it will still be cheaper than other EV SUVs like the MG ZS EV. The IC-powered Nexon starts from Rs 7.42 lakh (ex-showroom, Delhi).

With fuel prices continuing to rise and EV charging infrastructure expanding its footprint, and solutions such as Battery as a Service (BaaS) becoming available, the EV segment could see further growth in the current fiscal.

Electric Passenger Vehicle Sales in India
Company FY 2022 FY 2021 Change (in units) Change (in %)
Tata Motors 15,198 3,523 11,675 331
MG Motor India 2,045 1,115 930 83
Mahindra & Mahindra 156 94 62 66
Hyundai Motor India 128 183 -55 -30
Audi 74 0 74 NA
Jayem Automotives 48 42 6 NA
Jaguar Land Rover India 44 1 43 4300
BYD India 39 0 39 NA
Mercedes-Benz 30 17 13 76
BMW India 9 0 9 NA
Porsche 9 0 9 NA
Others 22 9 13 144
Total 17,802 4,984 12,818 257

Nilesh Wadhwa

Also see:

Tata Nexon EV, Tigor EV continue to lead EV sales charts





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