Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

EV Sales In India Surge by 50%, Reaching 1.38 Million Units From January To November 2023

- Advertisement -

India EV Inc Nears Historic Milestone with 1.5 Million Units Target in CY2023, Recording 1.38 Million Sales in 11 Months and an Impressive 50% Year-Over-Year Growth. 

India’s electric vehicle (EV) sector continues its remarkable growth trajectory, achieving significant numbers as November 2023 concludes. The total EV sales across India in November 2023 reached 152,610 units, marking a 26% increase compared to November 2022’s 121,598 units. This figure is just shy of the all-time monthly high of 158,420 units recorded in May 2023, spurred by a rush of purchases before the FAME subsidy reduction on June 1. November 2023 marks the 14th consecutive month where India’s EV sales have surpassed the 100,000-unit threshold, a streak that began in October 2022 with 117,200 units and has maintained momentum through each month of CY2023, peaking in May.

The cumulative sales for the EV industry, including two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles for the first 11 months of 2023, hit a record 1,387,114 units, representing a substantial 50% year-on-year growth from the 924,111 units sold in the same period in 2022. The primary contributors to this surge are the more affordable segments: two- and three-wheelers. Electric two-wheelers, with 783,128 units, constitute 56% of total EV sales from January to November 2023, while three-wheelers contribute 38% with 524,949 units. Electric cars, SUVs, MPVs, and vans, with an estimated 74,290 units sold, hold a 5.35% share, and commercial vehicles, including goods carriers and buses, account for a 0.35% share.

- Advertisement -

 

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

Vingroup Unveils VinRobotics For AI And Automation Advances

0
VinRobotics, boasting a charter capital of VND 1,000 billion, will concentrate on crafting intelligent robotic products and solutions aimed at boosting production efficiency. These...

India’s Mobile Export Boom Pushes For Airport Infrastructure Overhaul

0
New airports to keep up with India's mobile export surge? To meet $180 billion target by 2030, manufacturers are urging upgraded and expanded cargo...

Ather Energy Introduces ‘Eight70 Warranty’ For EV Scooter Batteries

0
The Eight70 Warranty provides protection for either eight years or 80,000 kilometres, depending on which limit is reached first. Electric two-wheeler manufacturer Ather Energy introduced...

India To Offer $5B Incentives For Electronics Manufacturing

0
Eyeing to reduce Chinese imports and powering its $500 billion industry goal, India plans to offer up to $5 billion in incentives to boost...

Magna Provides 800V Hybrid Drive System To Chinese OEM

0
The scalable design of the longitudinal DHD Duo front drive accommodates vehicles from segments B to E, including SUVs, pickups, and light buses. Its...
Abhishek Malik from Calcom Vision Limited

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...

HKTDC Electronics Fair Sparks Innovation, 60,000+ Participants!

0
Showcasing cutting-edge tech, global innovation, and booming markets for the future of electronics, HKTDC’s Hong Kong Electronics Fair and electronicAsia drew 60,000+ professionals. Last month,...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

Industry's Buzz

Vingroup Unveils VinRobotics For AI And Automation Advances

0
VinRobotics, boasting a charter capital of VND 1,000 billion, will concentrate on crafting intelligent robotic products and solutions aimed at boosting production efficiency. These...

India’s Mobile Export Boom Pushes For Airport Infrastructure Overhaul

0
New airports to keep up with India's mobile export surge? To meet $180 billion target by 2030, manufacturers are urging upgraded and expanded cargo...

Ather Energy Introduces ‘Eight70 Warranty’ For EV Scooter Batteries

0
The Eight70 Warranty provides protection for either eight years or 80,000 kilometres, depending on which limit is reached first. Electric two-wheeler manufacturer Ather Energy introduced...

India To Offer $5B Incentives For Electronics Manufacturing

0
Eyeing to reduce Chinese imports and powering its $500 billion industry goal, India plans to offer up to $5 billion in incentives to boost...

Magna Provides 800V Hybrid Drive System To Chinese OEM

0
The scalable design of the longitudinal DHD Duo front drive accommodates vehicles from segments B to E, including SUVs, pickups, and light buses. Its...

Learn From Leaders

Abhishek Malik from Calcom Vision Limited

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...

Startups

HKTDC Electronics Fair Sparks Innovation, 60,000+ Participants!

0
Showcasing cutting-edge tech, global innovation, and booming markets for the future of electronics, HKTDC’s Hong Kong Electronics Fair and electronicAsia drew 60,000+ professionals. Last month,...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...