Electric vehicle industry records 20% sales growth in FY19-20

CHENNAI: The Electric Vehicle Industry sold 156,000 electric vehicles in the AF19-20 . Outside of this, 152,000 were two-wheelers, 3,400 cars, and 600 buses.

The corresponding sale for fiscal year 18-19 was 126,000 two-wheelers, 3,600 cars, and about 400 buses, making a total of 130,000 units. This 20% growth comes mainly from two-wheeled vehicles.

This figure does not include the e-rickshaw, which is still largely with the unorganized sector with a reported sale of around 90,000 units. The corresponding figures for e-ricks sold in the previous year have not been documented.

In the E2Ws sold in fiscal year 19-20, 97% were electric scooters and a very small volume of motorcycles and electric cycles filled the remainder with 3%. Low speed scooters that go at a top speed of 25 km/h and do not need to register with the transport authorities made up 90% of all E2W sold.

Brief notices

Explore the writings

In the four-wheel power segment, 3,400 units were sold compared to 3,600 units in the prior fiscal year. The decrease in numbers is mainly attributed to the lack of bulk purchase of electronic cars in fiscal year 19-20 and the discontinuation of one of the major car models.

The acceptability of electric cars in the premium segment in the second half of the year was a positive sign of a quantum leap from a much higher volume of electronic cars in fiscal year 20-21. The e-taxi segment is also starting to gain some traction, although the range of e-cars and the lack of charging points in sufficient density are a deterrent to the growth of the e-taxi segment.

Electronic buses entered a Yo-Yo of great commitments by state governments that did not translate into purchases.

Sohinder Gill, director general, Society of Manufacturers of Electric Vehicles, said, “The Electric Vehicle Industry is taking shape, and we believe that despite the Covid-19, the FY 20-21 will be a defining year for all the EV segments. While the Electric Vehicle Industry is surely going to face the brunt of Covid-19 like any other automotive business, the clearer skies and the cleaner air in even the worst polluting cities is certainly leaving a permanent impression in the minds of the customers about how they can breathe easy and remain healthy if the society moves towards E Mobility.”

Some experiments like E2W are sold without the batteries and customer paying for the batteries as a fuel, e-commerce companies realising the economic benefits of EVs and converting their fleets, e-carts becoming a convenient and cost-effective means of short distance logistics, e-taxis fleets beginning to make money due to lower operating costs may bring around the inflection point in the Electric Vehicle Industry in FY 21-22,” added Sohinder Gill.

comments