Sales of electric vehicles (EVs) increased for the first time in four years in the just-ended fiscal year, but the growth doesn’t seem to have the momentum to take the numbers to the government’s target of putting 5-6 million EVs on the road by the turn of the decade.
Sales in the year ended March 31 rose 37.5% to 22,000 from 16,000 the year before, data from industry body Society of Manufacturers of Electric Vehicles (SMEVs) showed. These included 20,000 electric two-wheelers and 2,000 four-wheelers. The jump was fuelled by subsidies under a government initiative called FAME India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India). The volume is still way short of the high of 1,00,000 units hit four years ago.