EV industry ends 2022 with one million unit sales; worries loom ahead

Despite consumer interest EVs, reluctance on the part of the auto industry to invest more in them, lack of long-term policy and the rising number of Covid cases put the sector at risk

India’s electric vehicle (EV) industry has touched the milestone of one million unit sales in calendar year 2022, accounting for 4.7 per cent of overall automobile sales.

According to data on the government’s Vahan website, about 1,003,000 EVs have been registered with regional transport offices till December 31. The numbers show a more than threefold increase from 332,000 units sold in 2021.

The numbers do not include data from Telangana and Lakshadweep.

The rise in sales was on the back of high individual buying and Business-to-Business (B2B) purchases by EV fleet operators. Adaptation of FAME II and building of charging