Electric 3 Wheelers surpassed the sale of conventional ICE three wheelers in May 2022

Electric three wheelers sales in May 2022 surpassed the conventional ICE (Diesel, Petrol, CNG, LPG) three-wheelers for the first time in India. Last month the electric 3 wheeler segment sold 21,911 units on the other hand the ICE three-wheeler counterpart’s sales recorded 19,597 units, and the EV 3-wheeler share surged from 45% to 53% sequentially. 

Electric three-wheelers have performed very well in the financial year 2022 by registering 101 % growth by selling 1,77,874 units. If the sale of three-wheelers is compared from last year’s May to May 2022; eight times surge can be witnessed in the segment as per the records in May 2021 only 5,215 units were sold whereas this year May it is 41,508.

The reason behind the growth of electric 3-wheeler

The electrification of three-wheelers is going strong as compared to other commercial and passenger vehicles. If we try to find the reason behind electric three-wheeler acceptance in the Indian market, we will see that cost-effectiveness, ease of charging, and government supports through subsidies for green emissions are the main factors for its sky-rocket increase in purchases. 
If we will parallelize the total electric 3 wheeler sales, we can find that the sales in the cargo three-wheelers segment are much higher than passenger three-wheelers.

These cargo three-wheelers have been mostly bought by E-commerce big players like Amazon and Flipkart for their freight applications. Even these electric cargo three-wheelers cost more than conventional ICE cargo three-wheelers but they facilitate the owners with less running cost, so are more profitable. But it would be astonishing to witness the response of the Indian Market to these electric 3-wheelers. But the underlying fact is that in all types of cargo applications, electric vehicles are cost-effective as compared to ICE three-wheelers.