A headline event for the Indian electric vehicle industry this year was the buzz created by Ola Electric’s grand announcements, followed by disappointment due to persistent delivery delays.
The biggest manufacturer by its word, Ola Electric, should eventually get going.
In 2020, as the pandemic restricted mobility, EV registrations shrank 26% to 119,656 vehicles, according to the government’s Vahan dashboard.
A total of ₹3,298 crore went into the sector during the first three quarters, compared to ₹1,546 crore in all of 2020.
In 2021 , India registered 126,813 electric two-wheelers, up 4.6 times over the same period last year.
It’s followed by Okinawa and Ather, both of which have seen their share nearly double to 9.3% and 5.3%, respectively, in the last one year.
According to Motilal Oswal Securities, a brokerage, electric two-wheelers have a 10-20% lower cost of ownership on a per kilometer basis than two-wheelers powered by internal combustion engines .
The hike in this subsidy in June from ₹10,000 per kWh to ₹15,000 per kWh is expected to reduce the price of an e-scooter by 10-12%.
According to a Grant Thornton-FICCI report, India needs around 400,000 public charging stations to support 2 million EVs by 2026.
Indian Oil Corporation plans to expand its charging stations from 448 now to 2,000 in a year, and add another 8,000 in two years.