There is absolutely no doubt that electric vehicles are the way to go and if the central government has its way, we will have 100 per cent EV adoption very soon. Various policies are being formed to reward and encourage EV makers as well as consumers benefits for being early adopters.
The push has now started showing results and with brands introducing multiple vehicles and new brands entering into the market, for the very first-time electric vehicle registrations have crossed the mark of 50,000 vehicles in a single month.
A report by JMK Research and Analytics says that last month there was a record 204 per cent jump in the year-on-year number of sales of battery-powered vehicles in the country.
The report mentions that 50,888 electric vehicles were sold in December 2021 which is a 21 per cent increase from 42,055 vehicles that were sold in November. To give a fair idea, at the same time a year back in December 2020, less than 15,000 vehicles were sold in India.
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Smaller vehicles and towns charge ahead
The rising fuel prices have had a major impact on the monthly budget of an average Indian household. This is precisely expressed in the numbers as well. Battery-powered two-wheelers and passenger three-wheelers accounted for over 90 per cent of the total sales. At 48.6 percent, two-wheelers alone made up for half of the sales numbers.
The contribution of electric cars was rather minuscule at 5 percent while electric cargo three-wheelers amounted to a mere 4.3 per cent. This clearly shows the lack of affordable options for electric cars. Electric cars priced around Rs. 500,000 with a practical range and decent built quality can drive the change.
The report also states that while the battery-operated vehicles have been promoted by startups and brands in the metros and major cities in India, it is the state of Uttar Pradesh where the maximum number of electric vehicles were registered last month.
States like Maharashtra, Karnataka, Rajasthan and Delhi were among the other states in the top five positions. Tamil Nadu, which is sort of becoming a hub for EV manufacturing, accounted for seven per cent of vehicles sold in India last month.
Early adopters can lead the way
This is not the first time that EV sales have recorded positive numbers. A previous report also showed remarkable growth in the number of zero-emission vehicles sold throughout the country. However, compared to the number of vehicles with internal combustion engines, the numbers are still paltry.
This clearly hints that people are ready to adopt, in case they get practical solutions. The anxiety around the charging system is also being answered as even petrol stations and housing societies are installing the charging infrastructure.
Global brands like Hyundai have stopped working on ICE engines and have trained their focus on making electric vehicles. It is a sign that it is time for brands in India to switch to electric mode and offer multiple options across different price points to help boost faster adoption.
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