In Q4 2022, India saw a 28% increase in EV sales, primarily of electric two-wheelers: Report

22 Feb 2023 , 07:15 AM

In Q4 2022 (October to December), sales of electric vehicles increased 28.86% QoQ, according to the most recent research from JMK Research.

According to the research, 3,57,248 electric vehicles (EVs) in total were sold during the quarter, the majority of which were electric two-wheelers.

According to the report, E3W (cargo and passenger combined) accounted for a portion of 30.32% of registered E2W sales, which this quarter accounted for 65.13% of all registered EV sales. 

Nine electric two-wheeler vehicles, six electric three-wheeler models, and five electric cars were introduced in the quarter and over 26,000 charge points will be installed in India by the end of Q4 2022.

According to the survey, Maharashtra was the state with the second-highest sales share (13.78%), following Uttar Pradesh (14.33%).

JMK Research estimates that overall sales of battery electric vehicles (BEVs) climbed by more than 23% this quarter to 24,83,021 units from 20,17,714 units in Q3 2022 in China, the United States, Germany, the United Kingdom, France, Norway, South Korea, the Netherlands, and Japan. But, the report continued, the increase in sales from Q42021 to Q42022 was extraordinary, increasing by more than 56%.

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