India’s annual EV sales surpassed 1.2 million units in fiscal 2023


From pv magazine India

Annual EV sales in India crossed 1.2 million in fiscal 2023, up 174% year on year. Electric two-wheelers accounted for more than 60% of the overall units sold. Passenger electric three-wheelers’ share stood at 29%, according to the “Annual India EV Report Card” by JMK Research.

Uttar Pradesh accounted for a maximum 15.15% share of the annual sales, followed by Maharashtra at 12.72% and Karnataka at 9.14%. Cumulative EV sales in India reached 2.3 million units by the end of fiscal 2023.

Electric two-wheelers led with a 48.76% share of all sales, followed by electric three-wheeler passenger vehicles at 43.33%. Electric three-wheeler cargo vehicles accounted for 3.65% of the total, electric cars came in at 3.85%, and electric buses accounted for 0.17%.

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Uttar Pradesh is the top Indian state for EV sales, with a 20.64% share of cumulative units sold between fiscal 2014 and fiscal 2022. It is followed by Maharashtra at 10.15% of the total and Delhi at 8.85%.

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