New Delhi, India
steady five-year growth run in the electric two-wheeler, three-wheeler, and
four-wheeler segment, the industry has experienced a 20% year-on-year decline
in sales in the fiscal year of 2020-2021.
to the Society of Manufacturers of Electric Vehicles (SMEV), a total of 2,
95,683 electric vehicles were sold in 2019-2020.
electric two-wheeler segment saw a dip of 6% Year on Year in FY 2021 while the
electric-three wheeler segment had a sales decline of 37% in FY 2020.
to Sohinder Gill, Director General, SMEV, the government has to intervene in terms of policy change to ensure
there is healthy growth and to make sure the industry achieves its target by
the end of FY 2022.
that very few banks are offering loans to electronic vehicle models also adds
to the sales dip.
thing though, according to SMEV, is the fact that the e-commerce industry is
adopting electronic vehicles more and this industry has seen a 200% growth year
is also hopeful that the state governments will work towards implementing
favourable EV policies in the near future and this will create a larger
ecosystem for the EV industry.