Maharashtra has emerged as the leader in the sale of electric vehicles (EVs) across all segments through the FAME II scheme.
The scheme provides a subsidy of up to Rs 3 lakhs to EV buyers and has been extended until the end of March 2024. The top five states, including Karnataka, Tamil Nadu, Gujarat, and Rajasthan, account for over 56 per cent of the 0.85 million EVs sold through the scheme. This encompasses two-wheelers, three-wheelers, e-rickshaws and four-wheelers.
The trend of the top states is similar to the registrations of internal combustion engine (ICE) vehicles, however, Uttar Pradesh, which was ranked second and accounted for 11 per cent of all vehicle registrations, has lost its position in the top five in the EV market.
Maharashtra remains number one on both lists, with EV sales of 39,572, while Rajasthan has sold 60,584 EVs, mostly two-wheelers. The state's share of total EV sales is 7.1 per cent. Karnataka has overtaken Tamil Nadu and Gujarat in the EV rankings, with Bangalore being the software capital of India and home to two big players, Ola Electric and Ather Energy.
In the electric four-wheeler segment, Delhi was the top-selling market with 2,864 vehicles, followed by Karnataka (1,359), Maharashtra (735), Telangana (427), Haryana (369) and West Bengal (197). These six states account for 93 per cent of the 6,397 electric four-wheelers sold in the country. However, not all four-wheelers are eligible under the FAME II scheme, so the FAME II-led sales do not reflect the entire sales of electric four-wheelers.
The government outlayed Rs 10,000 crore as a subsidy for EVs under the FAME II scheme and the total disbursement to date is Rs 3,775 crore. The latest budget has earmarked Rs 5,500 crore till March, financial year 2024 (FY24). The subsidies vary substantially depending on the vehicle and can range from Rs 20,000 for an electric two-wheeler to Rs 3 lakhs for a car. Electric two-wheelers account for 89 per cent of the total EV sales, with Maharashtra leading the way, followed by Karnataka, Tamil Nadu, Gujarat, and Rajasthan. These five states account for 60 per cent of overall sales.