Registration of electric passenger, motor vehicles doubles this year
- IBEF
- November 1, 2022
The number of registrations of electric passenger and motor vehicles—including light, medium, and heavy vehicles like automobiles and buses—has more than doubled in the calendar year 2022 through October 31.
According to data from VAHAN, they have registered 31,281 automobiles compared to 13,884 for the entire year of 2021, a gain of over 125%.
The Tatas, one of the world's largest automakers, are mainly responsible for the dramatic increase in EV registrations, which increased by 2.5 times in 2022 to 25,795 from 10,200 in 2021 until October 31. Tata Motors has a monopoly because, as of the end of October this year, it accounted for 82% of all registrations in this category. The main reason for this is because it has successfully broken through a number of price barriers for its electric product line.
The number of registrations in this passenger and motor vehicle category increased by 5% to 3,867 in October compared to the previous month, with the Tatas once again dominating the market.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
