July proved to be an exciting month for battery-powered vehicles as their sales accelerated and reached the highest-ever monthly figure after a bounce back in June.
Total registered electric vehicle volumes reported a 7 per cent increase as compared to volumes of June 2022, driven by electric two-wheeler and three-wheeler segments. As compared to July 2021, EV registrations grew 196 per cent.
Total electric vehicle registrations (all segments included) in July 2022 stood at 77,474 units against 72,528 units in June 2022 and 26,191 units in July 2021. The previous monthly highest registrations were in March 2022 at 77,254 units, according to data on Vahan Dashboard.
Total high-speed electric two-wheeler registrations stood at about 44,500 units in July against about 42,300 units in June 2022 and 13,200 units in July 2021, according to estimates.
Hero Electric tops the table
In July, Hero Electric regained its number one position by selling close to 9,000 units, pushing Okinawa (about 8,100 units) and Ampere Vehicles (about 6,320 units) to the second and third positions respectively. TVS moved to fourth position from the seventh position with registrations of about 4,250 units in July 2022. TVS’ electric scooter iQube sold a higher number than Ola Electric’s S1 Pro. In July, Ola Electric’s total registrations stood at 3,860 units.
In a recent analysts’ call, KN Radhakrishnan, Director & CEO of TVS Motor Company, said that iQube was recording a month-on-month increase in volumes and the company was hoping to increase the monthly volumes to 10,000 units in the coming months with a ramp-up in capacity. iQube is sold in more than 80 cities.
Ather Energy, which is present in 38 markets, sold about 1,290 units in July , according to Vahan data. “Ather’s sales declined last month primarily due to two-week factory shutdown for smooth transitioning to the manufacture of 450X Gen 3 electric scooters,” said a report by JMK Research.
“Our continuous efforts to strengthen supply chain are gradually paying off as we see supply chain constraints ease and are hopeful that our monthly volumes will increase significantly,” said Ravneet S. Phokela, Chief Business Officer, Ather Energy.
Registration of EVs
In July 2022, registrations of electric passenger three-wheelers and cargo-type three-wheeler stood at 26,733 units and 2,736 units, respectively. While electric passenger three-wheelers saw an month-on-month increase of 11.49 per cent, cargo three-wheelers witnessed a decrease of 6.65 per cent.
Sales of electric cars continue to move northwards. The cumulative sales of electric cars in July stood at 4,000 plus units. Tata Motors remains the key driver of electric car sales. In July, the company accounted for about 90 per cent share of the total electric registrations. Other than Tata Motors and MG Motor, Hyundai and Mahindra & Mahindra were the only two OEMs that witnessed a slight increase in sales of their electric cars, added the report.