EV sales in India cross 20 lakh units in FY25: Report

EV sales in India cross 20 lakh units in FY25: Report

EV sales in India reached over 20 lakh units in FY24–25, with electric two-wheelers (E2Ws) contributing over 50% of total sales, according to JMK Research’s Annual India Report Card: FY2025.

They were followed by passenger electric three-wheelers (E3W-P), which held approximately a 36% market share in FY25.

With this, cumulative EV sales in the country stood at 61.66 lakh units by the end of FY25, as per the report.

Bihar, Uttar Pradesh, Maharashtra, Karnataka, and Tamil Nadu emerged as the top five states in EV sales, accounting for nearly 50% of the sales during the fiscal year.

Electric Two-Wheelers (E2Ws): The E2W segment recorded around 19% year-on-year growth in FY25. Ola Electric, TVS Motor, and Bajaj emerged as the top three manufacturers, jointly capturing over 70% of the market share.

Electric Three-Wheelers (E3Ws): Sales of electric three-wheelers—including both passenger and cargo variants—increased by about 11% YoY. In the passenger segment, Mahindra Last Mile Mobility, Bajaj Auto, and YC Electric held a combined market share of 25%. The same trio also led the cargo E3W segment with a total share of approximately 19%.

Electric Cars: The electric car segment also grew by 11% YoY in FY25. Tata Motors retained its market leadership with a 53% share, followed by MG Motor at 28%.

Electric Buses (E-Buses): Unlike other segments, E-Bus sales saw a 3% decline compared to the previous year. Tata Motors, Olectra Greentech, and PMI Electro remained the top players, collectively accounting for about 69% of the segment’s sales.