Due to the rising cost of fuel, consumers in India are rushing to switch from gasoline-powered vehicles to electric vehicles (EVs). EV sales in India tripled in 2021 to 14,800 units and are still increasing.
According to a report from the Federation of Automobile Dealers Associations (FADA), electric passenger vehicle sales in the country increased 296 percent to 2,352 units in February 2022. Apart from high gasoline prices, EV sales have been hampered in recent months by increased government incentives and increased awareness in urban areas.
EV sales surpassed 50,000 in December 2021, but fell in January 2022 due to the impact of the Omicron-induced third wave. As the third wave of infections began to fade and offices and other economic activities reopened across the country, monthly registered EV volumes surpassed 50,000 for the first time last month.
According to official data from the Union Ministry of Road Transport & Highways, total registered EV volumes (all segments combined) stood at 3.13 lakh units in calendar year 2021, with February registering the highest-ever monthly volumes. In the first two months of 2022, registered EV sales surpassed the one lakh mark.
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