Electric vehicles saw a surge in sales and they made a hitting point by selling 1 Lakh vehicles this year. This rapid sale could be owned to various factors, the biggest reason being the war between Russia and Ukraine that made the matters worse and led to hefty prices incurred on the oil barrel. As of November 4, 2022, the price of WTI crude oil is 92.61 per barrel. This brings a heavy toll on the pockets of normal citizens who appeared worried. EVs were bringing some panacea to the mobility sector of India. On average 140 EVs are registered on a daily basis.

Previous Benchmark

The Indian economy’s automotive industry currently ranks fifth globally, but by 2030 it is projected to move up to third place. The transition to electric vehicles has begun, despite the fact that the majority of vehicles still run on gasoline. In October 2022, total EV sales grew month over month by 28.1% to 1,19,889 units. Additionally, there was a y-o-y increase of over 200%. Sales of electric vehicles picked up in 2022, increasing up to 200% for all two-wheeler, three-wheeler, and four-wheelers. This shows that people are dedicated to buying EVs

Top Players in EV Two-Wheeler

Read more: https://e-vehicleinfo.com/ev-sales-crossed-1lakh-in-india/