Showing 15.6% YoY growth, India’s EV sales hit a record 2 million in FY2025, with electric two-wheelers leading the journey towards a greener transport revolution.
India’s electric vehicle (EV) market has reached a milestone in FY2025, with over 2 million EVs sold, marking a 15.6% year-on-year (YoY) growth. According to a report by JMK Research, this achievement reflects the country’s growing commitment to clean and sustainable transportation.
By the end of the fiscal year, approximately 6.2 million electric vehicles (EVs) are expected to be on Indian roads, representing a rapid increase from previous years.
The electric two-wheeler (E2W) segment led the charge, accounting for nearly 60% of total EV sales. With around 1.2 million units sold, this sector grew by 20% compared to the previous year.
The popularity of e-scooters and e-bikes has surged, especially among urban commuters seeking affordable, eco-friendly alternatives. Since FY2020, the E2W segment has expanded by over 42 times.
The electric three-wheeler (E3W) segment also saw notable growth. The passenger E3Ws sold 609,762 units, up 9% YoY, while the cargo E3Ws saw an impressive 26% rise, driven by growth in the logistics and e-commerce sectors.
Despite being a smaller segment, electric cars also showed steady progress, with 110,748 units sold, a 12% increase YoY, making up 5.5% of total EV sales. In contrast, the electric bus segment experienced a slight decline of 3.8%, with 3570 units sold.
Brand-wise, leading the two-wheeler market, Ola Electric maintained its dominance with 358,132 units sold, capturing nearly 30% of the market share. TVS Motor and Bajaj Auto followed with significant growth, while Hero MotoCorp’s sales surged by over 167%.
In the three-wheeler passenger segment, Mahindra Last Mile Mobility led with 62,357 units, while Bajaj Auto saw extraordinary growth of 383.57%.
Tata Motors led the electric car market with 58,810 units sold, although it experienced a slight decline. MG Motor, however, showed remarkable growth of 127%, highlighting increasing competition in the sector.
In the electric bus market, Tata Motors remained the leader, though Olectra Greentech posted strong growth.
