Festival boost to green mobility, EV registration crosses 200,000 units milestone in Oct

The festive month of October has established a new record for electric vehicle (EV) sales by breaking the monthly EV registrations (covering all categories) record of 200,000 units recorded previously. The sales across all segments rose at the uptide of Diwali celebrations and other festivals.

During the month, overall EV registrations reached an all-time high of 2.18 lakh units, the biggest monthly volume ever recorded. This underlines an increase from 1.6 lakh registrations in September 2024 to 1.4 lakh units in October 2023. The previous high was achieved in March of this year at 2.13 lakh units, owing to pre-buying activity ahead of revisions to the subsidy plan.

As per Vahan statistics, the electric two-wheeler industry reached a new high in October selling 1.39 lakh units, surpassing the previous highest of 1.08 lakh units in July 2024.

Ola Electric, which has been the market leader, sold around 42,000 units during October. The sales saw a huge surge from 24,700 units in September and 23,900 units in October 2023.

Meanwhile, TVS Motor regained its second position in the electric two-wheeler market, selling above 30,000 units in October, from 18,218 units recorded last month. Moreover, Bajaj Auto stood in third place, selling some 28,190 units compared to 19,200 units last month and 9,070 units sold in the last year. The company has also rolled out a low-priced variant, Chetak 2903, to garner increased sales.

Ather Energy's ₹4,500-crore IPO saw more than 16,000 registrations in October compared with 12,850 in September.