"Tamil Nadu Surpasses Gujarat in Total Electric Vehicle Registrations for the Year 2023"

Tamil Nadu has emerged as the fourth-largest player among Indian states in total electric vehicle (EV) registrations for the year 2023, surpassing Gujarat. The state's rise to prominence is attributed to a surge in the adoption of battery-powered vehicles and supportive policy incentives.

Uttar Pradesh secured the top spot, primarily due to the higher volumes of e-rickshaws, constituting approximately 78% of total EV registrations in the state. Maharashtra claimed the second position, with Karnataka following as the third-largest state.

Excluding Uttar Pradesh's e-rickshaw numbers, Tamil Nadu would secure the third-largest position in EV registrations among states for 2023. In the previous year, Maharashtra recorded a total of 194,289 EV registrations, compared to 136,048 units in 2022. Karnataka's EV registrations also surged to 152,417 units in 2023, up from 95,899 units in 2022. Uttar Pradesh reported total EV volumes of 277,908 units in 2023 compared to 162,864 units, according to Vahan data.

Tamil Nadu continues to witness robust EV sales and has become a key player in terms of companies establishing manufacturing units across the EV value chain. The state's EV registrations increased from 66,954 units to 90,241 units, while Gujarat recorded 88,621 units against 68,997 units.

In the electric two-wheeler segment in Tamil Nadu, Ather Energy leads in volumes, selling 15,825 units in 2023, followed by TVS Motor (14,393 units), Ola Electric (13,608 units), and Greaves Electric (13,597 units). In the electric passenger vehicle segment, Tata Motors holds over 50% market share, followed by MG Motor, M&M, and BYD. The state saw the sale of just over 6,000 electric cars and SUVs during the year.

Analysts attribute Tamil Nadu's success in the EV sector to the state government's initiatives, including the recently launched "Tamil Nadu Electric Vehicles Policy 2023." The policy designates Chennai, Coimbatore, Tiruchirappalli, Madurai, Salem, and Tirunelveli as EV hubs to foster the state's growth in the EV ecosystem. The government aims to attract $6 billion in investments, generating job opportunities for 150,000 people in the EV sector over the next five years. The upcoming Global Investors Meet is expected to witness significant announcements, including a substantial investment commitment from Vietnamese EV firm VinFast, projected to invest over ₹12,000 crore in the state.

Although Kerala reported lower total electric vehicle (EV) registrations compared to other prominent states, the state stands out for having the highest penetration levels of battery electric vehicles in both the two-wheeler and passenger vehicle segments. Kerala recorded a total of 75,557 EV registrations in 2023, a significant increase from 39,619 units in 2022.

Remarkably, the penetration of electric vehicles in the two-wheeler segment in Kerala reached approximately 13%, showcasing a notable stride in the adoption of sustainable mobility. Additionally, the penetration rate in the electric passenger vehicle segment was 5%, further highlighting the state's commitment to green transportation.

Following Kerala, Karnataka emerges as the only state with double-digit penetration in the electric two-wheeler segment, reaching 11% in 2023. Maharashtra and Delhi reported penetration rates of 9.4% each, with Maharashtra's volumes being four times higher than Delhi.

In the electric passenger vehicle segment, Karnataka, Delhi, Maharashtra, Tamil Nadu, and Gujarat achieved penetration rates of 4%, 4%, 3%, 2.3%, and 2%, respectively.

Notably, Uttar Pradesh reported a lower penetration rate, with electric two-wheeler penetration standing at 1.6%, and the electric passenger vehicle segment registering less than a percentage.

While Kerala may not lead in total EV registrations, its significant strides in penetration levels underscore the state's commitment to fostering a sustainable and eco-friendly transportation ecosystem. The data reflects a promising trend in the adoption of electric vehicles, especially in segments crucial for reducing emissions and promoting cleaner mobility.

HBL