India’s electric car sales nearly double in September

India’s electric passenger-vehicle registrations saw a sharp month-on-month increase in September, reaching 36,108 units, according to data cited by industry observers.

The rise follows a period of fluctuating demand, with some reports suggesting recent declines. The uptick has contributed to a broader trend, though the exact share of electric vehicles in overall passenger-vehicle sales remains unclear. Industry body FADA linked the growth to factors like festive-season demand, evolving cost economics, a broader range of models, and ongoing policy support, including the PM E-DRIVE scheme and state-level initiatives.

While electric two-wheelers have long been a dominant segment in India’s EV market, four-wheelers appear to be gaining attention. Earlier reports indicated a modest month-on-month rise in electric two-wheeler registrations, though the overall distribution between segments is still evolving.

The shift comes amid activity in the EV startup space, with companies like Simple Energy securing significant funding rounds. However, the broader funding landscape remains mixed, with some startups in charging and battery-swapping facing challenges in raising capital.

Policy measures continue to play a role in shaping the market. PM E-DRIVE and various state schemes aim to reduce costs for buyers, though concerns persist about the sustainability of incentives and their long-term impact on demand.

For now, the numbers suggest a potential shift in consumer interest. How the market evolves in the coming months will offer further insight into the trajectory of India’s EV sector.

Sources: yourstory.com