Home >News >India >Domestic sales of electric vehicles jump 20% in FY20
Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint

Domestic sales of electric vehicles jump 20% in FY20

  • The government had in FY20 introduced a subsidy worth 10,000 crore through Faster Adoption and Manufacturing of Electric and Hybrid Vehicle (FAME) scheme
  • Sales of electric scooters increased by 20.6% year-on-year to 152,000 units, while e-bus sales jumped by 50% to 600 units

NEW DELHI: Sales of electric vehicles in the domestic market increased by 20% to 1,56,000 units in FY20 on the back of rise in sales of electric scooters. In FY19, sales of such zero-emission vehicles stood at 130,000 units, according to data released by the Society of Manufacturers of Electric Vehicles (SMEV).

The Union government had in FY20 introduced a subsidy worth 10,000 crore through the Faster Adoption and Manufacturing of Electric and Hybrid Vehicle (FAME) scheme, to promote local manufacturing of electric vehicles.

Sales of electric scooters increased by 20.6%, year on year, to 152,000 units, while e-bus sales jumped 50% to 600. Sales of electric cars declined by 5.5% to 3,400 units.

The lobby group did not include sales of low-cost electric three-wheelers in its data.

According to SMEV, electric scooters formed almost 97% of the electric two-wheelers sold in FY20 and a very small volume of motorcycles and electric cycles made up the rest. Scooters with a top speed of 25 kmph that do not need registration with the transport authorities constituted 90% of all the electric two-wheelers sold.

“In the electric four-wheeler segment, 3,400 units were sold compared to 3,600 units in the previous fiscal year. The decrease in numbers is attributed mainly to the lack of bulk purchase of e-cars in FY20 and discontinuation of one of the leading car models. The acceptability of electric cars in the premium segment in the second half of the year was a positive signal for a quantum jump in FY21," the lobby group said in a statement.

According to Sohinder Gill, director-general, SMEV, given the right impetus by the government and the industry, electric vehicles can spring back faster than ailing internal combustion vehicles.

“The electric vehicle industry is taking shape and we believe that despite covid- 19, FY21 will be a defining year for all the EV segments. Clearer skies and the clean air in even the worst polluting cities is certainly leaving a permanent impression in the minds of customers about how they can breathe easy and remain healthy if society moves towards e-mobility," added Gill.

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperLivemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

Close
×
My Reads Logout