India’s EV market rises 23 pc in September with 1.59 lakh unit sales

02-10-2024 Wed 11:56 | Business | IANS

New Delhi, Oct 2 : In a boost for the electric vehicle (EV) adoption in the country, the total EV registrations reached 1.59 lakh units in September — up from 1.29 lakh units in the same month last year.

According to the government’s VAHAN data, EV registrations saw a significant 23 per cent increase (year-on-year). In the first half of the current fiscal, EV volumes increased 20 per cent compared with the same period last year.

Electric two-wheeler sales were 0.90 lakh units, a rise from 0.64 lakh units in the same month last year. The electric three-wheeler segment saw 0.63 lakh unit sales, compared with 0.58 lakh units in September 2023, as per the data.

Ola Electric saw a dip in sales to 24,665 units in September from 27,587 units in August. Bajaj Auto showed growth with registrations rising to 19,103 units in September (16,789 units). TVS Motor registered 18,084 units, up from 17,649 units in August.

EV firm Ather Energy saw a boost in sales, with volumes climbing to 12,676 units in September (from 10,980 units in August). Hero MotoCorp saw a decline in sales to 4,304 units (from 4,755 units).

In the electric three-wheeler segment, Mahindra Last Mile Mobility maintained its leadership with 6,087 units, followed by Bajaj Auto with 5,004 units.

For the first half of the current fiscal (FY25), total EV registrations across all segments rose to 8.93 lakh units compared with 7.45 lakh units in the same period last year.

Meanwhile, the government on Tuesday launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme that has a financial outlay of Rs 10,900 crore over a period of two years. The PM-Drive scheme was approved by the Union Cabinet, chaired by Prime Minister Narendra Modi, on September 11 to promote electric mobility in the country.

The PM E-DRIVE scheme will play a pivotal role in accelerating EV adoption and building critical charging infrastructure nationwide, contributing to a cleaner and more sustainable future.

(The content of this article is sourced from a news agency and has not been edited by the ap7am team.)