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. 

Image for representative purpose only

Comments (0)

ADD COMMENT

Link Copied!

YANGWANG, BYD's flagship luxury new-energy vehicle marque, staged a high-profile celebration in Dubai to honour the U9 Xtreme's 503.17 kmph world-record top speed, headlined by a bespoke light and projection spectacle across the Burj Khalifa. The showcase drew an estimated 3,000 international media figures and VIP guests, assembling a global audience to mark advances in automotive performance, technological innovation and brand growth.

The record was set on 1 November 2026, when the all-electric hypercar hit 503.17 kmph (312.6 mph) along Sheikh Khalifa Bin Zayed International Road (E11) in Abu Dhabi's Al Dhafra Region. Two Guinness World Records followed: highest speed achieved by a production car in a single-direction run, and the equivalent honour for an electric production car. Motorsport's governing body, the FIA, has likewise acknowledged the result. Racing driver Marc Basseng piloted the machine past its own earlier 496.22 kmph (308.3mph) marker, posted at ATP Papenburg in Germany in September 2025.

That display anchored the evening, projecting the milestone onto one of the planet's most photographed structures, while supporting brand activities allowed attendees to explore YANGWANG and the engineering underpinning its record-setting model. The U9 Xtreme, in the brand's view, embodies an ongoing push to test how far new-energy technology can stretch automotive limits.

The same evening saw the World Branding Awards trophy presented to BYD Executive Vice President Stella Li, following BYD's selection as Brand of the Year in the Automobiles category at Global Tier. The World Branding Forum, which runs the programme, weighs brand valuation, consumer market research and public online voting, with Global Tier status reserved for international brands active in at least 10 countries across three or more continents; the honour was first conferred at Hampton Court Palace in London on 3 November. The Dubai gathering sat within a broader UAE celebration programme that included a 110-vehicle parade of YANGWANG, DENZA and BYD models in Abu Dhabi on 7 November, led by the U9 Xtreme from West Park to Emirates Palace.

Stella Li, Executive Vice President, BYD, said, “Reaching 503.17 kmph with the U9 Xtreme demonstrates what electric performance can achieve and reflects our engineers’ determination to push beyond established boundaries. At the same time, being named Global Brand of the Year in Automobiles is also a recognition of the trust our customers place in BYD. These achievements inspire us to keep exploring what technology can make possible, from extraordinary performance to sustainable mobility that makes a meaningful difference in people’s everyday lives.”

Comments (0)

ADD COMMENT

Link Copied!

Delhivery has signed Memoranda of Understanding (MoUs) with Tata Motors, Euler Motors and Montra Electric to deploy between 1,500 and 2,000 electric four-wheelers across its intra-city logistics network over the next 12 to 18 months. The agreements form part of the company's plan to deploy nearly 5,000 electric vehicles within three years and fully electrify its intra-city fleet operating under 200 kilometres per day within four to five years, starting with a rollout in Delhi-NCR.

At present, electric vehicles account for 12 to 13 percent of Delhivery's intra-city fleet. Through advance payments for vendors and investments in charging and parking facilities at its hubs, the company plans to increase that share beyond 50 percent over the next two to three years.

Under the partnerships, Delhivery will induct the Tata Intra EV from Tata Motors, begin deployments with the Turbo City Plus from Euler Motors before adding payload-capacity models and expand nationwide operations of Montra Electric's EVIATOR across its network.

Prashant Gazipur, COO – In City Operations, Delhivery, said, “Scaling fleet electrification means finding solutions that work across the diverse needs of our network without compromising operational efficiency. Partnering with Tata Motors, Euler Motors and Montra Electric lets us expand our electric fleet across vehicle categories. The charging facilities we are piloting will make EV adoption easier and more affordable for our vendor partners.”

Comments (0)

ADD COMMENT

Link Copied!

GreenLine Mobility Solutions, an Essar Group venture, has entered into a partnership with Kirloskar Ferrous Industries to deploy electric trucks for the manufacturer's logistics operations.

The initiative began with the flag-off of electric trucks at Kirloskar Ferrous' facility in Taloja, Navi Mumbai, integrating electric transport into the company's goods movement.

At present, GreenLine operates a fleet of more than 1,200 liquefied natural gas and electric trucks across freight corridors in India, serving sectors including steel, cement, mining, fast-moving consumer goods and chemicals. The fleet has recorded over 100 million kilometres of operations, reducing carbon dioxide emissions by more than 30,000 tonnes for its clients.

Madhur Taneja, CEO, GreenLine Mobility Solutions, said, “At GreenLine, we are focused on advancing lower-emission freight transportation through solutions suited to different logistics requirements. LNG continues to play an important role in our approach to decarbonising long-haul transportation, while electric trucks offer opportunities in applications suited to electric mobility. Our partnership with Kirloskar Ferrous marks a further step in expanding our electric truck deployments and working with businesses to integrate cleaner transportation solutions into their supply chains.”

“Electrifying inter-plant logistics is where sustainability meets operational excellence, driving higher efficiency, lower costs and a cleaner future” said the Kirloskar Ferrous Industries leadership team.

Comments (0)

ADD COMMENT

Link Copied!

Noida-headquartered fuel-tech startup Nawgati has been selected among the top 10 finalists from over 11,000 applicants for the UAE-India Startup Series 2.0, organised by the UAE-India CEPA Council. The selection qualifies the company to present at the Final Pitch Event in Bengaluru on 17 and 18 November 2026.

Founded in 2019 by Vaibhav Kaushik, Aalaap Nair and Aryan Sisodia, Nawgati operates an artificial intelligence (AI) and Internet of Things (IoT) platform for fuel retail and gas companies, dealers and government agencies.

Its on-site controllers connect fuel dispensers, cameras and billing systems to detect safety risks, procedure breaches and non-compliant vehicles, enabling operators to intervene in operations across stations in India.

Vaibhav Kaushik, Co-Founder and CEO, Nawgati, said, “We are honoured to be selected among the top 10 from over 11,000 applicants for the UAE-India Startup Series 2.0, and we thank the UAE-India CEPA Council for this recognition. We have built Nawgati for the person in the driver’s seat. When a station runs smoothly, drivers spend less time stuck in queues, find fuel more reliably, and get clear, real-time information before they even reach the pump. Seeing that difference across India is what motivates us most. We look forward to taking this experience to more drivers and more stations.”

Comments (0)

ADD COMMENT

Link Copied!