The adoption of electric vehicles (EV) in India is poised to see a boost in adoption numbers driven by a rapidly expanding charging network, growth in battery swapping models and government policies such as the PM e-drive.
The respective sector demonstrated strong momentum in 2024, with total sales reaching nearly 1.95 million units across segments. Industry experts see this growth trajectory continuing into 2025, supported by expanding charging infrastructure, battery swapping networks and favorable government policies.
Alluding to the performance of the sector in 2024 ICRA Corporate Ratings Senior Vice President Srikumar Krishnamurthy said, “Electric vehicles in India continued to gain traction in 2024 supported by factors like government incentives, changing consumer needs new product launches, technological advancements, etc. Nevertheless, the EV penetration levels remain modest, particularly in cars and trucks, though adoption in two-wheelers and three-wheelers and buses is better. The government’s policy measures remain supportive; the PM e-drive scheme is expected to aid faster EV adoption apart from the development of the EV manufacturing ecosystem. While the transition is gradual, the EV sector holds promise as a cornerstone for sustainable mobility, with significant growth potential in the coming years."
According to data from Vahan Dashboard 19,48,957 EVs were sold between January and December 2024. Electric two-wheelers dominated the market with sales translating to 1.2 million units followed by the three-wheeler segment that sold 6,94,466 units. 
Meanwhile, the electric car segment continued to show steady progress with 99,848 units sold while the electric-bus sales experienced substantial growth increasing by 39% in CY2024, reaching 3,834 units. 
Ola Electric dominated the two-wheeler segment with a 35.42 percent market share followed by TVS (19.49 percent), Bajaj (16.58 percent), Ather (11.08 percent) and Hero (3.78 percent).
In the three-wheeler passenger segment, Mahindra Last Mile Mobility led with approximately 10 percent market share, while Bajaj Auto demonstrated exceptional growth. The three-wheeler cargo segment saw Mahindra LMM maintaining leadership with about 11 percent market share, while Bajaj Auto showed impressive growth to capture 4.7 percent market share. 
In the electric car segment, Tata Motors maintained dominance with roughly 62 percent market share, followed by MG Motor India at 22 percent, Mahindra & Mahindra (7 percent), BYD (2.85 percent), and PCA (2.19 percent), while in the electric bus segment, Tata Motors retained its leadership position with all major players showing significant sales growth.
2025 Outlook
Alluding to the sectoral outlook for 2025, Altigreen Propulsion Labs Chief Executive Officer Amitabh Sharan noted, “The electric vehicle industry in India stands at a transformative crossroads in 2025, with the market projected to reach USD 235 billion by 2030 at a remarkable CAGR of 49 percent. The sector will witness remarkable growth (especially in commercial vehicles) in 2025, driven by a combination of TCO benefits, technological advancements for better quality vehicles and driveability, and changing consumer perception towards EVs. However, the road to widespread EV adoption will need to overcome significant challenges viz-a-viz innovative vehicle financing, urban charging infrastructure, consistency in policy and regulatory framework, supply-chain localisation (for price parity with ICE) and very importantly skill development through industry-academia partnerships.”
Revfin Founder Sameer Aggarwal said, “2024 has been a defining year for India’s automotive sector, marked by accelerated adoption of electric vehicles, advancements in sustainability, and the integration of innovative technologies. Building on this momentum, 2025 is expected to be a year for EV adoption. With an intensified focus on developing robust EV charging infrastructure and scaling up battery-swapping networks, transitioning to electric mobility will become more seamless for consumers. Coupled with innovative financing models and targeted efforts to reach underserved markets, the industry is set to overcome accessibility barriers and make sustainable mobility a reality for all. Collaboration between automakers, policymakers, and technology providers will ensure a cohesive ecosystem, enabling India to lead the way in sustainable and inclusive mobility solutions.”
Godawari Electric Motors Director Hyder Ali Khan noted, “As we look ahead to 2025, we are excited about the robust expansion of our Eblu product portfolio, catering to the evolving needs of our customers. Additionally, we have some promising public and private orders in the pipeline, which will further accelerate our growth trajectory. We remain committed to driving innovation and sustainability in the EV sector and look forward to continued collaboration with our stakeholders to shape a cleaner and greener future for mobility.”
Zypp Electric Chief Executive Officer Akash Gupta revealed plans for 2025 along with the sector outlook and stated, “Looking ahead to 2025, Zypp Electric is committed to deploying 200,000 electric vehicles across the country in the next 12-18 months and we will double down on innovation, fleet expansion and partnerships to meet growing demand. We will focus on bolstering EV charging infrastructure, enhancing intelligent fleet management, and contributing to India's net-zero goals. Together, we aim to revolutionise last-mile logistics and make green mobility the norm for businesses and communities alike.”
On the components front, Automotive Component Manufacturers Association Director General Vinnie Mehta averred, “The Indian auto component industry is poised for robust double-digit growth in FY25, driven by strategic efforts to reduce import dependence and bolster exports. The electric vehicle component segment is witnessing remarkable year-on-year growth, propelled by the surging demand for sustainable mobility solutions. Key drivers include advancements in electric powertrains and battery systems, supported by increased investments in localization, R&D, and progressive government policies. These developments underscore the industry’s commitment to innovation, self-reliance, and establishing India as a prominent global manufacturing hub."
As India furthers its journey towards carbon neutrality within the mobility sector, EV adoption is slated to accelerate even in the luxury car segment. According to a news report citing Federation of Automobile Dealers Associations, the luxury EV market grew by 6.7 percent in 2024 despite decline in sales. 
BMW witnessed the highest sales followed by Mercedes Benz India, Volvo, Audi and Porsche. 

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Yulu, a micro-mobility solution provider, has launched its electric mobility-as-a-service platform in Nashik through its Yulu Business Partner franchise model, collaborating with Approach Auto Mobility led by entrepreneur Jai Dhanani.

The expansion marks Yulu's second market in Maharashtra following Mumbai and its ninth franchise-led launch across non-metro locations, extending its overall presence to 13 cities. Operations will commence with a fleet of 100 DeX electric two-wheelers operating from a hub in Rajiv Nagar, with plans to scale coverage across the city and surrounding areas.

The platform aims to serve Nashik's delivery sector, which records approximately 25,000 daily orders across 25 dark stores and 1,500 food service outlets. The service includes battery swapping supported by Yuma Energy, maintenance, and insurance, offering commercial users a cost-per-kilometre lower than petrol vehicles.

Amit Gupta, Co-Founder & CEO, Yulu, said, "India’s next phase of e-mobility adoption will be shaped by non-metro cities where changing consumer expectations and the expansion of quick commerce are reshaping urban logistics. The depth of demand for sustainable, reliable, and accessible solutions from both consumers and delivery partners in Nashik makes it the perfect time for a hyperlocal goods mobility platform like Yulu to launch its service in the city. Through our partnership with Approach Auto Mobility, Yulu aims to create an EV-powered delivery model that adapts to Nashik’s evolving needs."

Jai Dhanani, Founder, Approach Auto Mobility, said, "As an existing battery swapping franchise partner of Yuma Energy, we were already familiar with the Yulu Group’s purpose-built system and technology-driven approach to mobility. The latest partnership gets us closer to our aim of making EV-powered deliveries the default in Nashik — a goal we will achieve by offering delivery partners a lower cost per kilometre and near-zero downtime network, even as we simultaneously help brands unlock a dependable and low-emission fleet that grows with them as a partner."

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Blue Energy Motors has expanded its green freight footprint through two commercial initiatives, deploying LNG-powered heavy-duty trucks with M R Shah Group and opening a battery-swap station for electric heavy-duty trucks in Bhiwandi in partnership with Hindustan Petroleum Corporation (HPCL).

M R Shah Group has integrated double-tank LNG heavy-duty trucks from Blue Energy Motors into its long-haul operations to transport non-hazardous chemicals from Kutch to destinations in North India. The double-tank vehicles provide an operating range of up to 2,400 kilometres on a single fill, reducing refuelling stops and lowering greenhouse gas emissions by up to 30 percent compared to diesel trucks.

Concurrently, Blue Energy Motors and HPCL have operationalised a heavy-duty truck battery-swap facility at an HPCL retail outlet in Bhiwandi, extending the company’s Mumbai–Pune Electric Freight Corridor. The station performs automated battery swapping for heavy commercial vehicles in under five minutes to reduce charging downtime. The facility also incorporates public charging infrastructure for electric two-wheelers, four-wheelers, and commercial vehicles. Across its electric and LNG platforms, Blue Energy Motors operates over 1,400 trucks in India, covering 150 million kilometres and reducing carbon dioxide emissions by over 44,000 tonnes.

Archit Agrawal, Director, M. R. Shah Group, said, "In our business, keeping goods moving efficiently across long distances is essential. Blue Energy Motors LNG double-tank trucks offer the range required for our operations from Kutch to North India, while supporting reliable transportation and better fleet utilisation. Adopting this technology is a practical step towards improving operational efficiency while progressively moving towards cleaner freight transportation."

Anand Mimani, CEO – EV & New Energy Business, Blue Energy Motors, said, "We value M. R. Shah Group’s confidence in our LNG-powered heavy-duty trucks and its commitment to exploring cleaner solutions for long-haul transportation. The adoption reflects a forward-looking approach to freight operations, where operational efficiency and environmental responsibility go hand in hand. At Blue Energy Motors, we remain committed to supporting our customers with reliable, high-performance solutions that contribute to lower-emission freight movement and the evolution of India’s logistics sector. Our focus at Blue Energy Motors is on making electric freight a practical and scalable reality in India. Our partnership with HPCL brings together our strengths to build the energy infrastructure needed to support this transition. Bhiwandi, with its strong freight and logistics activity, is an important market for us. This first facility is a meaningful step forward, and we look forward to expanding our network of battery-swapping and charging facilities across key markets, supporting electric trucking and serving the wider EV ecosystem."

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E-commerce major Amazon has partnered with Tata Motors to deploy 3,000 electric trucks across Amazon's transportation network in India.

The initiative represents the deployment of Tata Ultra E.7 electric trucks for middle-mile freight movement between facilities, across cities and along highway corridors. The initial rollout begins in Delhi, with plans to electrify the 2,800-kilometre Delhi–Bengaluru–Chennai corridor along NH48 across seven states.

Tata Motors will supply the vehicles, while Amazon's carrier partners will own and operate them. Dedicated charging infrastructure for the fleet is being developed in partnership with charging provider Yahhvi.

The Tata Ultra E.7 features an integrated e-axle, CCS2 fast-charging capability, regenerative braking and a crash-tested cabin with high-voltage safety systems. The deployment aligns with Delhi's 2026 EV Policy, which provides exemption from city ‘No Entry’ hours for the first 1,000 registered medium-duty electric trucks, as well as national schemes including PM E-DRIVE and PARIVARTAN.

H. D. Kumaraswamy, Union Minister for Heavy Industries and Steel, Government of India, said, "India under the able leadership of Prime minister Shri Narendra Modi, is accelerating towards electric mobility and the realisation of Viksit Bharat 2047. The collaboration between Tata Motors and Amazon shows sustained demand from a nationwide logistics network, met by electric trucks manufactured in India. Through schemes like PM E-DRIVE, PLI Auto and PLI ACC the Government will continue to support this transition, and I look forward to more such efforts in powering green logistics."

Pankaj Kumar Singh, Minister of Health & Family Welfare, Transport & IT, Government of Delhi, said, "Delhi has led the nation’s transition to electric mobility, from expanding our zero-emission mass-mobility to building robust charging infrastructure across the capital. Decarbonising logistics is an important next step in our efforts to reduce transport-related emissions and contribute to improving air quality in Delhi. This collaboration between Amazon and Tata Motors sets an exemplary precedent, showing how progressive governance and industry leadership can join forces to accelerate sustainable urban logistics and improve the quality of life for the citizens of Delhi."

Abhinav Singh, Vice-President – Operations, Amazon, APAC, Middle East, Africa and Turkey, said, "Electrifying our logistics and transportation network is an important part of Amazon’s goal to achieve net-zero carbon emissions by 2040. We have made significant progress in India, with more than 15,000 electric vehicles operating across 500-plus cities. To enable this transition, we are also supporting the development of infrastructure and solutions that make EV adoption easier for our carrier partners and drivers. We are now setting a bold vision to scale electric trucking, addressing one of the toughest challenges in decarbonising transportation. Our collaboration with Tata Motors marks an important step towards realising this vision. By combining our strengths, we aim to accelerate the deployment of electric trucks across more routes, starting with intracity operations and expanding to India’s major freight corridors.”

Rajesh Kaul, Vice-President & Business Head – Trucks, Tata Motors, said, "Electric trucking in India is moving beyond the pilot stage and entering a phase of wider adoption. With deep localisation driving affordability and a compelling total cost of ownership, zero-emission trucks are becoming a practical business proposition for fleet operators across segments. Working with Amazon India, we are going beyond vehicle deployment to provide charging infrastructure, servicing and operational support. This collaboration will demonstrate how electric trucks can be integrated into large-scale logistics operations, with the potential to help reduce transportation-related emissions. We believe this effort will contribute to the broader adoption of electric commercial vehicles in the country."

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JSW Greentech Limited has logged its first commercial sale of AMPSTAR electric trucks, receiving an order for 100 AMPSTAR 4x2 55T Tractor Truck electric prime movers destined for heavy-duty industrial haulage at JSW Cement, Vijaynagar. JSW Eco-Mobility serves as Battery-as-a-Service (BaaS) provider, while Paradeep Parivahan Limited acts as logistics partner.

The order follows certification of the AMPSTAR 4x2 and 6x4 Tractor Trucks by the Automotive Research Association of India under Central Motor Vehicle Rules, clearing safety, performance and regulatory benchmarks for Indian roads. Coming just over a month after the brand's launch, the deal signals AMPSTAR's shift from unveiling to active deployment.

For JSW Cement Limited, the 100 prime movers underpin an integrated transport solution hauling clinker and slag across an approximately 330-km corridor linking Nandyal in Andhra Pradesh with Vijayanagar in Karnataka – an estimated 125,000 tonnes of cargo each month. JSW Eco-Mobility, a JSW Greentech subsidiary, will energise the fleet and establish a dedicated logistics corridor featuring four battery-swapping stations between the two cities. The contract term is projected to save roughly 45 million litres of diesel and prevent about 6,250 tonnes of CO₂ emissions. The AMPSTAR 4x2 55T Tractor Truck, built for tough Indian operating conditions, produces 430 kW peak power and 2,600 Nm peak torque.

Production will take place at JSW Greentech's greenfield integrated facility spanning approximately 90 acres at AURIC, Ch. Sambhajinagar, Maharashtra, with 15,000 electric buses and trucks annual capacity, an automated truck-cabin line and an integrated battery ecosystem, backed by the company's Pune R&D centre. Customers can select power outputs from 150 kW to 500 kW and ownership options including outright purchase, leasing and BaaS, alongside charging infrastructure, financing and after-sales support. Tippers and fixed-body dumpers are slated to follow the tractor-trucks.

Sumit Mittal, CEO, JSW Greentech Limited, said, “The 55T electric tractor truck, first showcased at our AMPSTAR brand launch, represents one of the most demanding vehicle architectures in commercial transportation. In just over a month, we have reached a significant milestone, with the first 100 trucks being deployed for JSW Cement’s industrial freight movement, supported by JSW Eco-Mobility as Battery-as-a-Service (BaaS) partner. With this, we are building an integrated electric mobility ecosystem, including a dedicated electric corridor with battery-swapping stations to enable the seamless movement of materials. This deployment brings together our full stack electric mobility solution to make electric heavy-duty transportation commercially viable. Our ambition with AMPSTAR is to be a catalyst in transforming how businesses move goods across India. These first 100 trucks mark an important step towards that vision.”

Narinder Kahlon, Director Finance, JSW Cement, said, “At JSW Cement, we are committed to building more sustainable and efficient industrial operations. The deployment of 100 AMPSTAR electric trucks marks an important step towards decarbonising our logistics operations while supporting the movement of materials across our supply chain. With an integrated electric mobility solution backed by battery-swapping infrastructure, we aim to reduce our dependence on diesel, lower emissions and advance our sustainability objectives without compromising operational efficiency.”

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