EV sales hit stumbling block in FY 2020-21, electric cars only solace
Society of Manufacturers of Electric Vehicle (SMEV) on Thursday informed that sales of electric vehicles in India in FY2020-21 declined by around 20% to 2,36,802. The figure was at 2,95,683 units in FY 2019-20.
Electric two and three wheelers power the battery revolution in the country but both registered a fall. While sales of electric two-wheelers fell to 1,43,837 units, a fall of around six per cent, just 88,378 units of electric three-wheelers were sold compared to 140,683 units in FY2019-20. This figure, however, does not factor in electric three wheelers that are not registered with the transport authority.
SMEV Director-General Sohinder Gill is of the opinion that sales of electric two and three wheelers may have had an impact on the overall figures. "We were anticipating a good growth before the start of FY21, but sales remained stagnant due to various reasons. The sales in the electric three-wheeler and two-wheeler segment stood low as compared to last year," he explained.
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There has been some upward movement when it comes to electric passenger vehicles. As many as 4,588 units were registered as against 3,000 in FY 2019-20, a 53% rise. Electric PVs, however, are only a fraction of the entire Indian electric mobility space and while recent launches of products in the luxury space are a good sign, the penetration remains quite low.
SMEV highlights that factors such as lack of awareness about green vehicles, delay in some states to impliment EV policies and lack of a strong bank finance mechanism for EVs remain a challenge although the next five to six years can see a further boost in development of EV-related infrastructure.