Electric vehicle (EV) sales in India have risen sharply over the year, with two-wheeled modes of transport accounting for the vast majority of sales in the world’s second-most-populous country. Sales of EVs in the country hit 156,000 in the 2019-20 financial year, figures from the Society of Manufacturers of Electric Vehicles (SMEV) showed Monday, up from 130,000 the previous year.
Of the two-wheeler sales in the latest figures, 97% were electric scooters, with electric bicycles and motorcycles accounting for the remaining 3%. Electric car sales in India were slightly down compared to a year earlier, when 3,600 units were sold. Compared to other countries India’s electric car market still has a long way to go.
“Air pollution is an extreme problem for the country, so EVs are a key part of the medium term solution to this,” Tim Buckley, from the Institute for Energy Economics and Financial Analysis (IEEFA), told CNBC via email. “Energy security is a huge issue, given India imports over 80% of its oil,” Buckley, who is director of Energy Finance Studies for South Asia at IEEFA, added.
Source: CNBC
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