Four-Wheeler EV Sales Pick Up Speed, Cross 2022 Figures in 8 Months: Govt Data – News18

Recent authorities information shared within the Lok Sabha exhibits a considerable upswing within the sale of four-wheeler Electric Vehicles (EVs) in India this yr, crossing final yr’s figures. The statistics point out a outstanding shift in the direction of eco-friendly transportation selections, with a surge in shopper curiosity pushed by incentives.

In response to questions requested to the Ministry of Heavy Industries, Minister of State Krishan Pal Gurjar shared the small print of the EV consumption until August. According to official information, 40,000 four-wheeler EVs have been bought within the nation until August 1. This determine surpasses all the gross sales tally of 33,205 four-wheeler EVs all through 2022.

UPWARD TRAJECTORY

In 2022, EVs comprised merely 1% of complete four-wheeler gross sales. However, the determine escalated considerably in 2023, reaching near 2%.

This surge in four-wheeler EV gross sales builds upon a constant upward trajectory witnessed over the previous years. The figures point out a noteworthy development. From 1,047 four-wheeler EVs bought in 2018, the numbers dropped to 962 items in 2019, surged to three,207 items in 2020, and additional escalated to a powerful 12,259 items in 2021.

GOVT PUSH

MoS Gurjar shared essential information of the federal government’s initiatives and measures geared toward overcoming structural challenges associated to EV adoption.

These measures embody schemes such because the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India), Production Linked Incentive (PLI) schemes for the automotive sector and superior chemistry cells, GST reductions on EVs and charging stations, issuance of inexperienced license plates for battery-operated automobiles, and waiver of street tax on EVs to decrease preliminary prices.

According to MoS Gurjar, beneath the FAME-India Scheme phase-II incentives are provided to EV customers within the type of an upfront lower within the buy worth of EVs. Furthermore, he acknowledged that in 2021, the federal government accredited the PLI Scheme for the Automotive Sector, involving electrical cars, with a budgeted allocation of Rs 25,938 crore to encourage native automotive manufacture.

The minister additionally acknowledged that in the identical yr, the federal government authorised the PLI Scheme for ACC manufacture within the nation, with a monetary price of Rs 18,100 crore. The plan is to construct a aggressive ACC battery manufacturing set-up for 50 GWh. Additionally, the scheme additionally covers 5GWh of specialist ACC applied sciences.

He additionally identified that the GST on EVs has been decreased from 12% to five%, whereas the GST on EV chargers or charging stations has been diminished from 18% to five%.

Furthermore, whereas speaking concerning the Ministry of Road Transport and Highways’ (MoRTH) initiatives to spice up EV adoption, MoS Gurjar acknowledged that the ministry has already declared that battery-powered automobiles shall be issued inexperienced licence plates and won’t be required to get permits. Additionally, MoRTH issued a press release recommending states get rid of street tax on EVs, reducing the preliminary price of the automobiles.

The minister then famous that with the rising penetration of the EV market in thoughts, the federal government has decreased the EV subsidy per unit from 40% to fifteen% of the ex-factory worth for electrical two-wheelers beneath the FAME India Scheme Phase-II. This was executed following stakeholder engagement periods with e-2W OEMs on May 2023, and clearance from the Project Implementation and Sanctioning Committee (PISC) for FAME India Scheme Phase-II.​