[himanshu]

Market

• EV car sales reached 0.7% of total car sales in FY 2021-22
• Tata and MG together command 98% of the Indian EV market
• Tata Nexon EV was the best-selling EV in the country with a 63% market share
• Tata Tigor EV with an all-new heart transplant (battery and motor) captured a 24% market share
• CKD MG ZS EV is the third best-selling EV with an 11% market share
• Luxury EV accounts for 0.9% of the total EV market
• SUVs command 76% market share and the rest 24% are sedans

Manufacturer

• Tata commands 87% of the total EV market, followed by MG’s 11% share
• Hyundai and Mahindra with one product each remained fringe players
• Audi leads the luxury EV market in terms of offerings with a luxury EV market share of 48%

Production type

• 87% of cars were produced by Tata Motors and Mahindra locally with imported Chinese cell
• 12% of cars came through the CKD route
• Rest 1% came as CBU imports by the luxury car manufacturers
• Effectively it remains unfavorable in terms of foreign trade till India starts making EV cells under the PLI scheme
• Still, there will be huge dependence on imported minerals or processed input material

GST support by the Government

• Since 2019 GST council has reduced the GST incidence on EVs to 5%, irrespective of vehicle length
• This has bridged the higher price gap between ICE and BEV vehicles in India
• GST support in the FY 2021-22 is estimated to be ₹ 891 crores
• Imported luxury cars account for 9.4% of the GST support

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