EV sales in India have seen a 3 times growth over the past year. That’s as per the latest data shared by the Ministry of Road Transport and Highways (MoRTH). The ministry outlined that currently, 13,92,265 EVs are plying on Indian roads.
As per the Vahan database, the graph high jumped to 4,28,224 units in the latest fiscal from 1,34,460 EV sales in FY2021.
|Vehicle Category||EV Units|
|E4Ws and above||54,252|
Under the FAME scheme, the government provided buyers an upfront reduction in the purchase price of electric vehicles, which is believed to be one of the primary reasons for the increase in EV sales.
The incentive is linked to battery capacity i.e. Rs 10,000/KWh for electric three- and four-wheelers with a cap of 20 percent of the cost of the vehicle. Further, from June 11, 2021, the incentive or subsidies for electric two-wheelers has been increased to Rs 15,000/KWh from Rs 10,000/KWh with an increase in cap from 20 to 40 percent of the cost of the vehicle.
In line with the above, the government has taken measures to fasten the pace of adoption across the country. The recent one being the launch of the super app which would serve as a one-stop source that will integrate information in terms of location and availability of the nearby vehicle charging stations.
The Ministry of Heavy Industries sanctioned 520 charging stations under the Phase-I of the FAME India Scheme. Further, 2,877 EV charging stations in 68 cities across 25 States/UTs and1576 charging stations across 9 expressways and 16 highways were allotted under Phase II of the FAME India Scheme. The Phase-II of has been allocated a Rs. 1000 crore budget for the development of charging infrastructure and stations.