When petrol and diesel became expensive, demand for EV exploded, bookings for electric cars doubled in 15 days.

EV Demand in Market Growth: People’s inclination towards electric vehicles is increasing rapidly in the country. It has been observed that in the last 15 days, there has been a huge jump in the demand for electric cars and scooters and the reason for this jump is Prime Minister Narendra Modi’s appeal regarding electric mobility and the continuously increasing prices of petrol and diesel. As you know, the energy crisis due to US-Iran tension is increasing the fuel prices in the country, which has increased by Rs 6 to 7 till now. In such a situation, its effect is visible in the auto market. Where people are taking low cost electric vehicles instead of petrol and diesel vehicles.

Tension increased between Tata Motors and Ather

According to ET report, the increasing demand for EV has created a new challenge for the auto companies. In which now due to supply chain problems and shortage of employees, companies are facing difficulty in fulfilling the rapidly increasing orders. Regarding this, Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, ‘The entire situation has changed in the last 15 days. Now people’s interest has increased even more rapidly than what was seen two-three weeks ago. Regarding this, the company clearly says that there has been a jump of 2 to 2.5 times in the booking of electric cars. In which now the demand for Ather Energy’s electric scooters is also increasing rapidly.

Sales figures also tell the story of EV revolution

According to data from the government’s vehicle portal, as of May 27, registration of electric cars increased by 51% to 21,669 units. On the other hand, electric two-wheeler sales registered an increase of 36% and the figure has reached 1,43,668 units. Not only this, the share of EV SUV in Mahindra & Mahindra has increased from 8% to 10% and in Tata Motors this share has increased from 14% to 18%.

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Low running cost is making EV a profitable deal

After looking at the figures revealed so far, auto experts believe that the biggest strength of EV is its low running cost. While driving a petrol car costs around Rs 700 to Rs 900 for every 100 kilometres, the same cost in an EV is only Rs 120 to 180. If solar energy is used then this cost reduces even further. Not only this, the government’s tax exemption and EV policy are also giving relief to the customers.