Sales of electric vehicles in India are increasing by leaps and bounds. Their growth over the past year can be seen across passenger vehicles, two and three wheelers; that too by a significant margin. Electric mobility is making rapid strides in the three-wheeler segment, owing to Government pressure on businesses to go green.
FADA has also stated that the three-wheeler market is seeing a tactical shift from internal combustion engines to electric with as much as 45 percent of three-wheeler market making a shift to EVs. Escalating prices of petrol and diesel has also had an effect on sales while the 3W electric segment is further boosted by services offered such as battery swapping and battery-as-a-service (BaaS).
We talk here exclusively of electric three wheeler retail sales that increased 1100 percent YoY to 23,321 units in May 2022 up from 1,944 units sold in May 2021. It was also an 11 percent MoM growth over 21,053 units sold in April 2022.
Electric Three Wheeler, Rickshaw Sales - May 2022
The largest seller in this segment was YC Electric with 2,045 electric 3W sold in the past month. This was a 1103 percent YoY growth over 170 units sold in May 2021 while MoM retail sales increased by 8 percent over 1,885 units sold in April 2022. YC Electric has the Yatri, Deluxe, eLoader and YC in its lineup.
Saera Electric at No.2 had retail sales at 1,367 units, up 1281 percent YoY over 99 units sold in May 2021. It was also a 17 percent MoM growth from 1,171 units sold in April 2022. Next up was Mahindra Reva with retail sales of 1,073 units, a YoY growth of 780 percent over 122 units sold in May 2021.
Both Dilli Electric (1,019 units) and Champion Poly Plast (940 units) at No. 4 and 5 saw increased YoY retail sales to the extent of 1823 percent and 1467 percent respectively. MoM sales growth stood at 25 percent and 2 percent respectively over 813 units and 920 units sold in April 2022.
Mahindra, Unique International, Mini Metro
Mahindra's electric 3W retail sales were at 826 units in the past month, up 752 percent over 97 units sold in May 2021. MoM growth was at 2 percent from 810 units sold in April 2022. Unique International (770 units) and Mini Metro (752 units) also saw outstanding YoY growth of 1162 percent and 2792 percent respectively while MoM sales increased 11 percent and 18 percent over 695 units and 638 units sold in April 2022.
Lower down the order was Terra Motors (546 units), Best Way (542 units), JS Auto (496 units) and Vani (476 units). The 3W electric retail sales list also included All Fine (442 units), Energy Electric (422 units), SKS Trade (422 units) and Thukral (408 units). Piaggio sales increased 3860 percent to 396 units in May 2022, up from 10 units sold in May 2021 but dipped 30 percent over 568 units sold in April 2022.
Omega Seiki is a relatively new entrant into the electric 3W segment. The company has noted sales of 242 units in May 2022, a 34 percent MoM growth over 181 units sold in April 2022. In June 2022, the company has launched the new Stream electric three-wheeler, priced at Rs 3.40 lakhs (ex-showroom), post government subsidies. The new Stream offers a range of 110 kms per single charge.
Omega Seiki also announced plans for the world's largest electric three wheeler manufacturing unit in Karnataka. It is from this new plant that the company will roll out their range of 3Ws that include Rage+, Rage+ RapidEV, Rage+ Frost, Rage+ Swap, and Rage+ Tipper. The list also included other electric 3W manufacturers who have contributed 8,114 units to total retail sales in the past month up from 735 units sold in May 2021 and 7,054 units sold in April 2022.