The Economic Times

EV sales rise 28 per cent in Q4 2022 in India, mostly electric two wheelers: Report

The sale of electric vehicles rose 28.86% QoQ in Q4 2022 (October-December), according to a latest report of JMK research.

The report claimed that a total of 3,57,248 EVs were sold in the quarter, the majority of which were electric two-wheelers.

While registered E2W sales accounted for 65.13% of total EV sales this quarter, E3W (cargo and passenger combined) accounted for a share of 30.32%, the report said.

As per the report, nine electric two-wheeler models, six electric three-wheeler models, and five electric cars were launched in the quarter, while over 26,000 charge points were set up by the end of Q4 2022 in India.

Uttar Pradesh accounted for a majority sales share (14.33%) this quarter as well, followed by Maharashtra (13.78%), the report further added.

According to JMK Research, globally, the total sales of battery electric vehicles (BEVs) in China, the United States, Germany, the UK, France, Norway, South Korea, the Netherlands, and Japan increased by more than 23% this quarter to 24,83,021 units from 20,17,714 units in Q3 2022. The rise in sales, however, from Q42021 to Q42022 has been phenomenal, having grown by more than 56%, the report added.

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