In 2023, the electric vehicle (EV) market in India experienced a significant surge in sales, marking a noteworthy milestone in the country’s transition towards sustainable mobility.
According to insights provided by Priyadarshi Singh, a Consultant specializing in EV and Public Transport, a total of 15,29,574 electric vehicles were sold during the year.
This impressive figure comprised various categories, with the majority being electric two-wheelers (e-2W) accounting for 8,59,102 units. Evidently, the EV landscape in India is diversifying, with e-rickshaws contributing 5,08,946 units and e-buses making their mark at 73,739 units.
Remarkably, these EV sales accounted for 6.4% of the overall vehicles sold in the country throughout 2023, highlighting a growing acceptance of electric mobility among consumers. In a comparative analysis, it was revealed that registrations for EVs under the #EVpreneur category reached 10,24,805, indicating a 50% increase compared to the previous year, showcasing a significant shift towards electric vehicles.
Breaking down the sales figures by vehicle class, e-rickshaws dominated the market with a 56.2% share, followed by e-2W at 33.2%. Other categories, including e-3W, motor cabs, motor cars, and e-autos, contributed to the remaining percentage, signifying a diverse EV portfolio catering to different transportation needs.
A noteworthy milestone was achieved in May 2023 when India recorded its highest-ever monthly EV sales, reaching 1,58,433 units. This robust performance contributed to an impressive cumulative figure of 25,54,830 EVs sold in the last two years, showcasing the accelerating pace of EV adoption in the country.
It’s essential to acknowledge that the foundations for this remarkable growth were laid in the preceding years, with 8,98,515 EVs sold from 2015 to 2021, establishing a foundation for the exponential growth witnessed in 2023. Priyadarshi Singh’s insights provide a comprehensive overview of the evolving EV landscape in India, emphasizing the substantial strides made towards a greener and more sustainable future in the realm of transportation.
