The EV industry in India has changed a lot in the last year. Sales of electric vehicles in the country are on the rise. Although the industry is still in the budding stage, the interest in buying EVs has significantly increased. With that being said, let us look at the sales performance of EVs in India for H1 FY22.
A total of 6,261 units were sold during this period, up 234 percent over the 1,872 units sold from April to September 2020. This was a difference of 4,389 units. Leaders in this segment include automakers such as Tata Motors (Nexon and Tigor EV), MG Motors (ZS EV), Hyundai (Kona), and Mahindra (Verito).
Tata Motors, the Indian automobile giant, remains dominant with their Nexon (SUV) and Tigor (Sedan) models, making up for 70% of total private EV sales in H1 FY21-22. Both the Nexon and Tigor models enjoyed growth in sales by 214 percent and 701 percent, respectively, compared to H1 of last year.
The Tata Nexon topped the charts with 3618 units sold, single handily making up almost 58% of India’s total private EV sales for H1 of FY2021-22. Tata Motors also revealed the plan to launch ten more electric cars in India over the next five years. Rs 7,500 crore ($1 billion) has been raised for this venture, and out of these ten EVs being planned, at least seven cars will be launched over the next four years.
MG ZS EV was at No. 2 with 1,789 units sold in the April-September 2021 period, an increase of 250 percent or 1,278 units over just 511 units sold during the same period last year.
At No.3 was Tata Tigor EV with sales of 801 units in April-September 2021, up 701 percent from 100 units sold in the April-September 2020 period. This jump in sales can be accredited to the updates the vehicle received in the battery and other departments earlier this year.
Hyundai Kona came as 4th. The sales of this EV have dipped 50 percent from 101 units sold in April-September 2020 to 51 units in the same period of this year. At the last position of private EVs was the Mahindra Verito with just two units sold in the April to September 2021 period, down from 8 units sold in the same period of 2020, relating to a 75 percent degrowth.
With the EV charging stations reaching 500 (427 operational) across the country, government subsidies on EV purchase, and the ever-rising fuel prices, India might soon emerge as a leading EV market.
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(via)
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