EV sales in India cross 20 lakh in FY25; two-wheelers hold over 50% market share, ET EnergyWorld

New Delhi: Cumulative electric vehicle (EV) sales in India reached 61.66 lakh units by the end of financial year 2024–25, with over 20 lakh units sold during the year, according to the Annual India EV Report Card: FY2025 released by JMK Research.

Electric two-wheelers (E2Ws) accounted for over 50 per cent of the sales, followed by passenger electric three-wheelers (E3W-P), which held around 36 per cent share of the India EV market in FY25.

State-wise sales distribution

Uttar Pradesh, Maharashtra, Karnataka, Tamil Nadu, and Delhi remained the top five states for cumulative EV sales till March 2025. For FY25 alone, Bihar entered the top five list, replacing Delhi, with Uttar Pradesh, Maharashtra, Karnataka, Tamil Nadu, and Bihar together accounting for nearly 50 per cent of the annual EV market share.

Segment-wise performance

The E2W segment recorded approximately 19 per cent year-on-year growth in FY25 compared to FY24. Ola Electric, TVS Motors, and Bajaj were the top three players in the registered E2W category, jointly capturing over 70 per cent of the segment’s market share.

Electric three-wheeler sales, including both passenger and cargo vehicles, grew by about 11 per cent year-on-year. Mahindra Last Mile Mobility, Bajaj Auto, and YC Electric led the E3W-P segment with a combined share of 25 per cent, while the same trio led in the cargo segment with a cumulative share of around 19%.

Electric cars also witnessed an 11 per cent year-on-year increase in FY25. Tata Motors remained the dominant player with about 53 per cent market share, followed by MG Motor at 28 per cent.

In the electric bus (E-Bus) segment, sales declined by 3 per cent in FY25 over the previous fiscal. Tata Motors, Olectra Greentech, and PMI Electro led the segment, collectively contributing about 69 per cent of total E-Bus sales during the year.

• Published On Apr 17, 2025 at 07:18 PM IST

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