| | | | | | | | Annual India EV Report Card: CY2025
(JAN’25 - DEC’25)
Summary
| | This EV report analyses the movement in market shares (EV share) of the top vehicle categories, key vehicle-selling states, and key players in the Jan 2025-Dec 2025 period (CY2025) in the Indian electric vehicle (EV) space.
Sales Trends - Vehicle Category-wise EV Sales: The cumulative EV sales in India reached 79,76,184 units by the end of CY2025. The annual EV sales surpassed 23 lakh vehicles in CY2025, with registered electric two-wheelers (E2W) accounting for 57% of total EV sales, followed by passenger electric three-wheelers (E3W-P) with an approximately 29% market share.
- State-wise EV Sales: Uttar Pradesh, Maharashtra, Karnataka, Tamil Nadu, and Delhi were the top EV-selling states till CY2025, collectively accounting for over 50% of the EV share. In terms of CY2025 sales share, Uttar Pradesh, Maharashtra, Karnataka, Tamil Nadu, and Madhya Pradesh emerged as the leading states in EV sales.
Annual Market Shares
Electric Two-Wheelers (E2Ws): On an annual basis, the E2W segment recorded an increase of ~11% in CY2025 over CY2024. TVS Motors, Bajaj Auto, and Ather were the top 3 E2W players in CY2025, accounting for more than ~60% market share in registered vehicle category sales.
Electric Three-Wheelers (E3Ws): Electric Three-Wheelers (E3Ws): On a year-on-year basis, the combined registered sales of passenger and cargo E3Ws in CY2025 grew by approximately 15% compared to CY2024.
- In the E3W Passenger segment, Mahindra Last Mile Mobility, Bajaj Auto, YC Electric, TVS Motor, and Saera Electric emerged as the top five players in CY2025, collectively accounting for around 35% of the market. Within this segment, the L5 E3W Passenger category was dominated by Mahindra, Bajaj, and TVS, which together held a combined market share of approximately 84%. In contrast, the L3 E3W Passenger segment saw YC Electric, Saera Electric, and Dilli Electric as the leading players, with a combined share of about 15%.
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In the E3W Cargo segment, Mahindra Last Mile Mobility, Bajaj Auto, YC Electric, Dilli Electric, and J.S. Auto were the top five players in CY2025, together capturing nearly 25% of the market. Within the cargo category, Mahindra, Bajaj, and Omega Seiki led the L5 E3W Cargo segment, with a combined market share of approximately 54%. Meanwhile, in the L3 E3W Cargo segment, YC Electric, Dilli Electric, and J.S. Auto were the top three players, jointly accounting for around 16% of the market.
Electric Cars (E-Cars): On a yearly basis, E-Car sales registered an increase of ~82% in CY2025 over CY2024 sales. Tata Motors was the top E-Car player, accounting for more than 39% of the entire market share, followed by MG Motor which accounted for ~29% of the market share.
Electric Buses (E-Buses): On an annual basis, E-Bus sales witnessed a jump of ~18% in CY2025 over sales in CY2024. Olectra Greentech, PMI Electro and Switch Mobility were the top 3 E-Bus players accounting for 68% of the total E-buses sold in CY2025.
EV Penetration Trends
State-wise EV Penetration: refers to the % of electric vehicle registrations out of total vehicle registrations in a state during a given period. In CY2025, Tripura recorded the highest EV penetration at 18.38%, followed by Assam (14.30%), Delhi (13.89%), Kerala (11.34%), and Goa (10.76%), making them the top five states by EV penetration.
Player-wise EV Penetration: refers to the percentage of an OEM’s EV sales out of its total vehicle sales during a given period. - E2W segment: TVS Motor recorded the highest EV penetration at 5.26%, followed by Bajaj Auto (4.68%). Among legacy OEMs, Honda entered the EV segment with an EV penetration of 0.06%.
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E3W – Passenger segment: Mahindra last mile mobility registered the highest EV penetration at 96%, followed by TVS Motor (43.98%). E3W – Cargo segment: Mahindra last mile mobility again led with an EV penetration of 63.66%, followed by Atul Auto (18.03%). E-car segment: MG Motor India recorded the highest EV penetration at 74.34%, followed by Tata Motors (12.13%).
State-wise Charging Stations: In CY2025, India recorded over 29,000 public charging stations, with Karnataka, Maharashtra, Uttar Pradesh, Delhi, and Tamil Nadu together accounting for more than 55% of the country’s total charging infrastructure.
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