JMK Research

India witnessed a spectacular EV show in 2022 with 212% y-o-y growth The year 2022 has been a fantastic year for electric vehicle industry in India. The annual EV sales crossed the 1-million mark for the first time in 2022, amounting to 10,75,859 units. This implies a 212% growth y-o-y from 3,45,067-unit sales in 2021. This stupendous growth was led by states like Uttar Pradesh (15.2%), Maharashtra (12.7%), and Karnataka (8.8%), which were the top 3 states with maximum EV…

Uttar Pradesh: Leading the EV transition in India Uttar Pradesh (U.P.) leads the count of the maximum number of ev vehicles (EVs) in the country (4,14,978), followed by Delhi (1,83,074) and Maharashtra (1,79,087). The state of U.P. tops the list for EV sales due to the widespread use of electric rickshaws (three-wheelers) in several of its cities. E-rickshaws, both for passenger and cargo, accounted for an 85% share of overall EV sales in the state during 2022. The state has…