EV industry posts 20% sales growth in FY19-20

[ad_1]

CHENNAI: The EV industry sold 156,000 electric vehicles in the FY19-20. Out of this, 152,000 were two-wheelers, 3,400 cars and 600 buses.

The corresponding sale for the FY 18-19 was 126,000 two-wheelers, 3,600 cars and around 400 buses making a total of 130,000 units. This growth of 20% has largely come from two-wheelers.

This figure does not include e-rickshaw which is still largely with the unorganized sector with a reported sale of around 90,000 units. The corresponding figures of the e-ricks sold in the previous year have not been documented.

In the E2Ws sold in FY 19-20, 97% were electric scooters and a very small volume of motorcycles and electric cycles filled the rest of 3%. Low-speed scooters that go at a max speed of 25 km/hr and do not need registration with the transport authorities constituted a whopping 90% of all the E2Ws 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 due to lack of bulk purchase of e-cars in FY 19-20 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 of a quantum jump of a much higher volume of e-cars in FY 20-21. The e-taxi segment is also beginning to get some traction, though the range of e-cars and lack of charging spots in enough density are a deterrent in the growth of e-taxi segment.

E-buses went into a Yo-Yo of big commitments by the state governments not translating into purchases.

Sohinder Gill, director general, Society of Manufacturers of Electric Vehicles, said, “The EV industry is taking shape, and we believe that despite the Covid-19, the FY 20-21 will be a defining year for all the EV segments. While the EV industry is surely going to face the brunt of Covid-19 like any other automotive business, the clearer skies and the cleaner air in even the worst polluting cities is certainly leaving a permanent impression in the minds of the customers about how they can breathe easy and remain healthy if the society moves towards E Mobility.”

“A few experiments like E2Ws being sold without the batteries and customer paying for the batteries as a fuel, e-commerce companies realising the economic benefits of EVs and converting their fleets, e-carts becoming a convenient and cost-effective means of short distance logistics, e-taxis fleets beginning to make money due to lower operating costs may bring around the inflection point in the EV industry in FY 21-22,” added Sohinder Gill.

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *