India’s electric vehicle (EV) sector has reached a historic milestone, with over 2 million EVs sold in FY2025, the highest-ever annual tally, according to data from Vahan Dashboard, Telangana State RTO, and JMK Research. This marks a 15.6% growth from FY2024, where sales stood at approximately 1.75 million units. In a span of just five years, total EV adoption has scaled to 6.2 million units, a staggering 11.5x growth since FY2020—a testament to India’s rapidly electrifying mobility landscape.
Segment-Wise Growth: Two-Wheelers Dominate, Cargo Three-Wheelers Surge
Leading the charge are electric two-wheelers (E2Ws), which account for nearly 60% of total EV sales, with approximately 1.2 million units sold. This represents a 20% year-on-year growth and an astonishing 42x increase since FY2020, driven by urban commuters’ demand for economical and eco-friendly travel solutions.
The electric three-wheeler passenger (E3W-P) segment followed, with 6,09,762 units sold, posting a 9% YoY increase. Meanwhile, the cargo three-wheeler (E3W-C) segment registered the highest growth rate at 26%, fueled by the booming logistics and e-commerce industries.
Electric cars (E-Cars) also continued their upward trajectory, with 1,10,748 units sold—a 12% increase—contributing to 5.5% of total EV sales. However, electric buses (E-Buses) experienced a 3.8% decline, closing the year at 3,570 units, though future growth is anticipated under the PM E-DRIVE initiative.
Top Performers: Ola, Tata, and Bajaj Shine Across Categories
Electric Two-Wheelers (E2Ws):
Ola Electric remained market leader with 3,58,132 units sold and a 29.76% market share.
TVS Motor followed with 2,50,696 units, achieving 24.83% YoY growth.
Bajaj Auto emerged as a breakout performer, growing 110.11% YoY to hit 2,37,356 units.
Ather Energy and Hero MotoCorp also posted notable gains, with Hero registering a massive 167.30% growth.
Electric Three-Wheelers – Passenger (E3W-P):
Mahindra Last Mile Mobility (MLMM) retained leadership with 62,357 units (+23.09% YoY).
Bajaj Auto soared with a 383.57% YoY growth, hitting 47,714 units.
YC Electric, Saera Electric, and Dilli Electric experienced flat or negative growth, highlighting increasing market consolidation.
Electric Three-Wheelers – Cargo (E3W-C):
MLMM led with 7,838 units, though facing a -28.94% decline.
Bajaj Auto surged with a 361.78% YoY increase, selling 4,978 units.
YC Electric and Dilli Electric also recorded strong gains, while Omega Seiki saw a -30.11% fall, hinting at shifting market dynamics.
Electric Cars (E-Cars):
Tata Motors led the segment with 58,810 units, despite a -14.65% YoY dip, holding 53.10% market share.
MG Motor posted an impressive 127.52% growth, with 31,195 units sold.
Mahindra, BYD, and Hyundai also expanded their footprint, with BYD growing by 60.53%.
Electric Buses (E-Buses):
Tata Motors remained on top with 1,058 units, despite a -40.65% fall.
Olectra Greentech rose strongly with a 68.56% increase and a 25.83% share.
PMI Electro Mobility, Switch Mobility, and JBM Auto maintained stable positions, with Switch at 11.60% market share.
With rising consumer acceptance, policy support, and expanding charging infrastructure, India’s EV momentum is expected to accelerate further. The focus on clean, smart, and sustainable mobility has not only redefined automotive trends but also positioned India as a growing hub for electric mobility innovation.
