Retail EV sales cross 4 lakh units since April 2021

    Tata Motors leads the passenger vehicle sales with over 15,000 units sold since March 2021.

    Published On Apr 10, 2022 10:00:00 AM


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    Retail sales of electric vehicles clocked 4,29,217 units in FY22 (April 2021-March 2022), as compared to 1,34,821 units in FY21 (April 2020-March 2021) and 1,68,300 units in FY20 (April 2019-March 2020), the Federation of Automobile Dealers Association said.

    • Hero Electric had the highest sales in two-wheeler segment
    • Two- and three-wheeler segments led the growth this fiscal

    This increase is over 200 percent as compared to FY21 numbers and 155 percent over FY2020 numbers.  The surge in sales can be attributed to increase in the availability of products in the market, high fuel prices, state subsidies and sops offered under FAME II.

    The two- and three-wheeler segments led the growth in the fiscal with sales of 2,31,338 units and 1,77,874 units, respectively. While the passenger vehicle tally was 17,802 units, 2,203 electric CVs were sold.

    Two-wheeler sales

    In the two-wheeler segment, the top five companies: Hero Electric (65,303 units), Okinawa Autotech (46,447 units), Ampere Vehicles (24,648 units), Ather Energy (19,971 units) and Pure Energy (14,862 units), accounted for 74 percent of the market share.

    Electric two-wheeler sales in India
    CompanyFY2022FY2020Change (in units)Change (in %)
    Hero Electric65,30314,77150,532342
    Okinawa Autotech46,4476,97239,475566
    Ampere Vehicles24,6485,90318,745318
    Ather Energy19,9714,40115,570354
    Pure Energy14,8622,07912,783615
    Ola Electric14,371014,371NA
    TVS Motor Company9,4588378,6211030
    Revolt Intellicorp7,6231,7935,830325
    Benlign India Energy and Technology7,0841,1085,976539
    Bajaj Auto7,0121,4705,542377
    Jitendra New EV-Tech3,7886193,169512
    Mew Electricals2,7603272,433744
    Goreen E-Mobility2,7412272,5141107
    KLB Komaki1,882381,8444853
    RGM Business Plus7910791NA
    Elthor Energy52557468821
    Eco Fuel Systems43948391815
    Booma Innovative Transport Solutions2410241NA
    Chandana Corporation2330233NA

    Four-wheeler sales

    Tata Motors led the passenger vehicle segment with 15,198 units sold followed by MG Motor with 2,045 units. While Tata has two offerings – the Nexon and TigorMG Motor India has the ZS EV. Tata is updating the Nexon EV with a long-range version set to go on sale soon. Expect it to welcome more buyers to Nexon, especially considering how it will still be cheaper than other EV SUVs like the MG ZS EV. The IC-powered Nexon starts from Rs 7.42 lakh (ex-showroom, Delhi).

    With fuel prices continuing to rise and EV charging infrastructure expanding its footprint, and solutions such as Battery as a Service (BaaS) becoming available, the EV segment could see further growth in the current fiscal.

    Electric Passenger Vehicle Sales in India
    CompanyFY 2022FY 2021Change (in units)Change (in %)
    Tata Motors15,1983,52311,675331
    MG Motor India2,0451,11593083
    Mahindra & Mahindra156946266
    Hyundai Motor India128183-55-30
    Jayem Automotives48426NA
    Jaguar Land Rover India441434300
    BYD India39039NA
    BMW India909NA

    Nilesh Wadhwa

    Also see:

    Tata Nexon EV, Tigor EV continue to lead EV sales charts

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