Q1 2022 (Jan-Mar 2022) India EV update

- Advertisement -

The report analyses the major trends and the movement in market shares of the key players in the January-March 2022 period (Q1 2022) in the Indian electric vehicle (EV) space. The report focuses on new product launches announced during the quarter as well as the sales trend for electric two-wheelers (E2Ws), electric three-wheelers (E3Ws), electric cars (E-Cars), electric buses (E-Buses), and the overall EV market. The report also compares the overall BEV sales in the leading EV markets of Norway, China, the United States, and other such 6 countries. The recent policies announced have paved the way for an increase in EV adoption and investments in the sector. Hence separate sections on investments, policy announcements, and market updates during the quarter have also been included in the report.

The EV segment continues to grow at an enormous pace in India with increasing sales and new product variants introduced across various vehicle categories. For the last quarter Q1 2022, key updates across EV sector include:

  • Launch of 25 electric two-wheeler models, 1 electric three-wheeler model, and 2 electric cars. This quarter witnessed the entry of Poise with both its models being introduced with a swappable battery pack, similar to Bounce offered last quarter. The quarter also witnessed the entry of Mini Cooper for the first time in the Indian E-Car market.
  • Sales of 1,92,780 registered EVs in Q1 2022, increasing by 40% from the previous quarter’s sales.
  • Announcement of successful bidders under the Production Linked Incentive (PLI) Schemes for Automobile and Auto Component Industry and the National Programme on Advanced Chemistry Cell (ACC) Battery Storage. The Government of India increased the subsidy under the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) for fiscal 2023 to INR 2,908 crore (US$ 373.6 million), which is more than three-and-a-half times the allocation of INR 800 crore (US$ 103.2 million) for this fiscal and almost nine times higher than FY21. Chandigarh administration approved the city’s first draft EV policy for 5 years on Feb 10.
  • More than INR 2,179 Crore (US$ 280 million) of equity fundings were raised across various segments. Biggest funding was raised by Ola Electric for INR 1,556 Crore (US$ 200 million).
  • Announcements of setting up ~3,00,000 charging stations/charge points in the coming years.
  • Announcement of investments worth ~INR 1,751 Crore (US$ 225 million) in the EV manufacturing sector.
  • Globally, the total sales of battery electric vehicles (BEVs) for the nine analysed markets (China, United States, Germany, UK, France, Norway, South Korea, Netherlands, Japan) declined by 11% from 1,584,371 units in Q4 2021 to 1,411,855 in Q1 2022.

- Advertisement -

Most Popular Articles

Automotive car sensor

ISRO Chairman Urges Association With Automotive Industry To Produce Sensors Locally

0
The space research organization is making significant strides in creating indigenous car sensors to empower the automotive industry. At the Bangalore Tech Summit on November...

U.S. Approves $1.5B Subsidy For GlobalFoundries Expansion

0
Winning the $1.5 billion US government subsidy, GlobalFoundries is looking to power industries like automotive, IoT, and defence with advanced chip manufacturing in New...

Trump’s Tariff Plan Could Derange Electronics Pricing

0
From disrupting global semiconductor supply chain to inflating iPhone prices, what can Donald Trump's proposed tariff raise on Chinese imports can cause? Donald Trump,...
Chip Manifacturing-NIvidia

New Blackwell Chip Will Propel Nvidia’s Unprecedented Market Growth In Coming Years

0
These chips have effectively dispelled concerns regarding potential pullbacks from tech giants investing heavily in AI processing and data centers. The global AI backed fabless...

David Goeckeler Appointed Chair Of SIA Board

0
Bringing 40 years of tech experience to lead the global semiconductor industry, David Goeckeler, CEO of Western Digital, joins to lead the SIA Board...
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...
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...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Industry's Buzz

Learn From Leaders

Startups