Amid the skyrocketing fuel prices in India, the recent data from FADA, the apex Indian automobile dealers body, shows a major shift toward the electric vehicles in the country.

The electric vehicle retail sales in the country witnessed over a three-fold jump in the last fiscal year.

According to FADA, the total EV retail sales reached 429,217 units in 2021-22, a rise of three-fold compared to 134,821 units in the financial year 2020-21.

One of the largest Indian automobile companies with a strong global presence, Tata Motors Limited ADR (NYSE:TTM) led the EV segment with retails of 15,198 units and the largest market share of 85.37% in the vertical.

British automotive marque’s Indian counterpart MG Motor India bagged the second place with sales of 2,045 units last fiscal with a market share of 11.49%. Auto giants Mahindra & Mahindra and Hyundai Motor India retailed 94 and 184 units, respectively, in the 2020-21 fiscal year.

Meanwhile, the two-wheeler electric vehicle segment saw a rapid spark and grew over five-fold in the last fiscal alone. Hero Electric led the segment with a 28.23% share in the domestic market, followed by Okinawa Autotech at 20%.

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