In India some years ago, Electric vehicles were seen as delicate products that can not stand against the conventional vehicles. You will get suprised to know that the same electric vehicle are one of the fastest growing segment in the automobile industry in India. Some of the major reason for this is the advancement in the EV industry and incentives and subsidies offered by Government to promote the EV sales in the country. The country saw a stable growth in EV adoption since 2021 and still the graph hasn’t gone downwards. Vahan data says that India has recorded 157 percent growth in EV sales in FY23 as compared to the previous year (FY22). Check out more details of the news below.
EV Sales Growth in India
As per Vahan data, EV sales has witnessed a growth percent of 82 percent in March 2023 as compared to March 2022. While overall vehicles sales recorded a growth of 157 Percent, coming to 1180597 units in FY2023 to 458746 in FY2022. In the overall sales, an impressive proportion was occupied by Electric vehicles. This data reflects that people are getting aware of the EV benefits and preferring to shift on EVs from Internal combustion vehicles.
If you are surprised with this impressive hike in the EV sales in India. You must know the reasons of why people are increasingly shifting towards EVs, check out some of them below.
Less Running Cost
Electric vehicles might come with a more initial cost, but they can compensate you for all the money that you have invested. It’s because electric vehicles provide impressive driving range in a single charge. Most of the electric cars in India takes 8-9 units of electricity to get fully charged.
Low Maintenance cost
When compared with ICE vehicles, electric vehicles have a significantly lower maintenance cost. EVs require less servicing than fossil fuel consuming vehicles. Thereby, you can save a big amount by switching to an EV.
Tax Savings and Incentives
In India, Government offers incentive and tax compensation on buying electric vehicle which reduces their initial buying cost. There are several schemes like Fame 2 subsidy which are offered by different State Government. So, if you switch to an EV, you can get more at a lower price with these tax compensation and subsidies.
Zero Tailpipe Emissions
In comparison with Internal combustion vehicles, Electric vehicles generate zero tailpipe emissions. Thereby, when you switch to an electric vehicle you can also contribute your part in saving the environment.
Easy to Drive
Electric vehicles are much easier to drive than conventional fossil fuel consuming vehicles. ICE vehicles come with complicated controls. Whereas, electric vehicles come with automatic transmission which is relatively easy to drive.