Ola tops EV sales chart for fourth consecutive month

Analysis of retail numbers from December 2022 reveals that the top EV OEMs – Ola Electric, Ather Energy, TVS Motor Co, Okinawa Autotech, Hero Electric, Ampere Vehicles, Bajaj Auto and Revolt Intellicorp – account for over 85 percent of sales. Here's a closer look at how the major EV players performed in December 2022.

1. Ola Electric tops sales chart for fourth straight month
2. Ampere, Okinawa report sharp decline

All sales numbers mentioned here are taken from the government’s VAHAN portal as of January 5, 2023.

Ola Electric: 17,294 units

Ola Electric has seen consistent sales of over 16,000 units for the months of October, November and now December. 

The move to offer a Rs 10,000 discount on its Ola S1 Pro, and retail the S1, launched on August 15, at an introductory price of Rs 99,999 has helped them earn this top spot. Ola also has plans to open over 200 experience centres by March 2023.

TVS: 11,071 units

Hosur-based TVS Motor Co, with its sole EV – the iQube – is in second position with sales of 11,071 units for December 2022. The zero-emission TVS is priced between Rs 98,564-1.08 lakh (on-road Delhi) for the entry-level iQube and iQube S trims, respectively, (including the FAME and other state subsidies). In terms of network, the new iQube is available in 33 cities and is slated to reach another 52-odd cities within India.

Hero Electric: 8,094 units

Hero Electric couldn’t match its over 9,000 units sales figure of the previous month, and could only rack up sales of 8,094 units in December 2022. The company has also partnered with various NBFCs to facilitate easy finance solutions for EV buyers. It is also actively increasing its EV charging network and has recently tied up with Jio-BP to enable its customers and users of other EVs to access the widespread charging and swapping network.

Ather Energy: 7,652 units

Ather’s tally for December was slightly lower than its figure for November, when it managed to sell 7,652 units. In October, Ather installed its 580th fast-charging point in India – the Ather Grid – and expanded its EV charging network across 56 cities in India. The company plans to install 820 more grids, taking the count to 1,400 by the end of FY2023. 

In November, Ather inaugurated its second manufacturing plant at Hosur in Tamil Nadu, thereby increasing its capacity to 4,20,000 units per annum, up from the previous 1,20,000 units.

Okinawa Autotech: 5,279 units

The December numbers of 5,279 units are the lowest for the company in the entire year and are nearly half of what the company managed to sell in the previous month. 

Ampere Vehicles: 4,408 units

Sales of Ampere EVs plummeted sharply from over 12,000 units in the previous month to just 4,408 units in December 2022. The company is gearing up to reveal a brand-new electric scooter at the upcoming Auto Expo. 

Bajaj: 2,888 units

The other legacy manufacturer in the EV market (like TVS with a single EV), Bajaj Auto sold a total of 2,888 units of its Chetak electric scooter in December, down slightly from its November figure of 2,987 units. Sales of the Chetak have been restricted due to fewer retail outlets compared to the competition, and, in some markets like Mumbai, the e-scooter is displayed and sold from KTM showrooms. However, that’s about to change in the near future with the Chetak EV only being sold and serviced via a network of exclusive Chetak showrooms across India.

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