Electric vehicle sales triple in H1 FY2022

More than 1.18 lakh EVs were sold in H1 FY2022, which is 90% of the total EV sales last fiscal.

Electric vehicle sales are on the rise in India. According to the Centre for Energy Finance at Council on Energy, Environment and Water at Centre for Energy Finance (CEEW-CEF), EV sales tripled in the first half of the current fiscal.

As per CEEW-CEF data, more than 1.18 lakh EVs were sold in H1 FY2022, which is 90% of the total EV sales last fiscal. These include 58,264 electric 2-wheelers and 59,808 3-wheelers.

It is said that there has been a surge in both demand and supply of EVs. Customer outreach, improved charging infrastructure, falling battery prices and subsequent drop in the prices of products are said to be some of the reasons which are driving sales.

There are other factors at play as well, including the rising prices of petrol and diesel. Further, financial incentives by the Central and state government are also wooing EV buyers.

Source: ET Auto