Analysis: Top EV Sales Trend In India From 2017 To 2021

alternative auto automobile battery
Photo by Mike on

As per vision 2030 identified by NITI Aayog & Rocky Mountain Institute 2019, 70% of all commercial cars, 30% of private cars, 40% of buses & 80% of 2W&3W sales to be electrified by FY2030.

To address the mismatch between the vision and present EV sales trend in India, we hereafter have analysed India’s EV sales trends for the last five years.

Below are some key statistics for India’s EV sales from EMobility+ Research team.

Source : VAHAN Portal, CEEW-CEF Dashboard

Source : VAHAN Portal, CEEW-CEF Dashboard

From the above chart it is clear that in FY2018 we have seen 50% YoY growth in EV sales i.e. from 87,558 registered EVs in 2017 to 1,31,555 registered EVs in 2018. After that we have observed a 22% YoY upward trend in EV sales for FY2019 & FY 2020 with  -25.83% YoY decline respectively. Covid-19 related market downturn aggravated the YoY decline for FY 2020 in India.

State wise % EV  penetration share for FY2017 to FY2020 is given below. Top 10 states in % EV penetration are UP, Maharashtra, Tamilnadu, Gujarat, Karnataka, Rajasthan, Bihar, West Bengal, Kerala, Haryana.

Source : VAHAN Portal, CEEW-CEF Dashboard

The above charts are based on registered EV data in VAHAN portal, which excludes data for Andhra Pradesh, Lakshadeep, Madhya Pradesh and Telangana.

Source : VAHAN Portal, CEEW-CEF Dashboard

Category wise % EV penetration share for FY 2017 to FY 2020 is given below. More than 80% of EV penetration is of 3W category which is at par with NITI Aayog’s ambitious target, followed by close to 20% market penetration for EV 2W category, 1.89% penetration fr EV 4W category, 0.28% penetration for goods vehicle category. Thus it is clear that EV penetration trends in 2W, 4W & Goods vehicles are way too lagging with NITI Aayog’s ambitious Vision 2030.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.