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The EV Boom in India

Today, owning a car is more of a necessity than a luxury. However, the boom in private transport increases our carbon footprints and inadvertently, causes significant harm to nature. Back in 1996, Scooter’s India Pvt. Ltd. came with a solution that could solve transport troubles while causing a considerably less amount of harm to the environment. The automobile company had launched India’s first electric vehicle (EV), a three wheeler called VIKRAM SAFA.

Although, Vikram was a failure in the market, it piqued the interest of many. Electric vehicles have been in existence, since the 19th century, but never became popular because of the cost differences, low speed and a shorter range, compared to other vehicles. EVs continued to be a major part of public transportation, be it railways or the currently popular, e-rickshaws. However, there seems to be a lag in the process of EVs becoming a mainstream option for private transport. The penetration of four-wheeler EVs across India stood at a meagre 4%, as of 2021.  

But are things changing?

With the hike in fuel prices across India, Electric Vehicles or EV(s) could become an economic investment for people looking to buy personal cars. Several new and established manufacturers in the country are now investing in EVs. The boost in EV sales finally happened in the September 2021, when Ola Electric sold 1,100 crores worth of e-scooters.

The boom in the sale of e-scooters was an indicator of the change in consumer behavior when it came to EVs. It could be because the consumers realised that while the EV initially costed more than any other car or scooter, the total cost of ownership is considerably low. The cost of running and maintaining an EV is far less than a diesel and petrol run vehicle. In case of four wheelers, the total cost of ownership is 20% less than its counterparts.

Today, EVs have also become a lifestyle change because they are a sustainable and eco-friendly mode of transport. In spite of the challenges in the infrastructure and supply-demand gap, EVs are, and will continue to be, the future of transportation i.e., the intelligent mode of transport.

The future of transport is still a work in progress but the future of digital car finance is right here and right now in your pocket. For a hassle-free and paperless car buying journey, visit or download the Kuwy app!

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