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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Bengaluru-based electric mobility startup E3 Electric.Ai has raised INR 1 billion in a Series A funding round led by BluVenture Holdings. The company intends to use the capital to support product development and expand its presence across India ahead of the launch of its E3 TRION scooter.

The start-up focuses on integrating artificial intelligence (AI) into electric scooters to manage safety, reliability and charging. Its platform utilises modular architecture to produce variants from a single chassis and incorporates AI for maintenance and routing.

E3 Electric.Ai maintains an R&D team and holds a portfolio of over 18 patents in modular architecture, battery systems and safety. The company positions its scooters as an alternative to the 110cc internal combustion engine segment.

P Sanjeev, Founder & CEO, E3 Electric.Ai, said, "At E3, we believe electric vehicles should predict, learn and continuously improve, making mobility safer, more reliable and affordable over time. E3’s DNA is defined by 3 words, Modular + AI + Human. Our Modular platform enables us to build multiple scooter variants from the same chassis. E3’s patented AI stack enables preventive maintenance check and smart routing to address range anxiety. E3 TRION is crafted with care and introduces best in class anthropometry-based ergonomics for a very comfortable ride. This investment enables us to accelerate our vision of making intelligent mobility accessible to millions of Indian families."

Shaun Dawson, LP with BluVenture Holdings, said, "As the world’s largest two-wheeler market, India is at an inflection point in its EV transition journey. E3 has built an impressive technology platform combining modular engineering with software-led intelligence that is tailor-made for electric scooters. Sanjeev’s deep expertise enabled E3 to build a profitable, sustainably scalable operating model instead of the industry's typical heavy-burn approach. E3 is smartly leveraging AI to track performance and health parameters, delivering predictive maintenance & value. We see the opportunity to build a category-defining company."

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Bengaluru-based electric vehicle maker Ather Energy has announced that the fourth edition of its community event, Ather Community Day, will take place on 29 August 2026 in Bengaluru.

On 29^th August, Ather Energy will unveil its first e-scooter built on its EL platform, marking its entry into the mass-market scooter segment.

The EL platform is a vehicle architecture designed for versatility, scalability and manufacturing efficiency. The upcoming scooter is intended to address the price segment of INR 100,000 to INR 125,000. In addition to the vehicle, Ather will showcase innovations in technology, charging and ownership systems.

In what can be seen as a further interesting development, Hero MotoCorp, which was amongst the earliest backers in the EV maker, has approved an investment of INR 10 billion in Ather Energy.

At present, Hero MotoCorp holds 29.48 percent stake in the company. The new investment will further see subscription to equity shares or other eligible securities, including compulsorily convertible preference shares and warrants to be issued by Ather Energy on a preferential basis.

Ather Community Day serves as an event for owners, enthusiasts and partners to view product developments and company strategy. The 2025 event, held on 30 August, hosted over 4,000 attendees and featured the unveiling of the EL platform, the Redux concept vehicle, fast-charging technology and AtherStack 7.0.

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Hindustan Petroleum Corporation (HPCL), one of the leading Oil Manufacturing Companies (OMCs), has conducted a series of inspections to monitor ethanol-blended petrol across its retail network.

Between 3 July and 13 July 2026, the company performed 1,385 regular field inspections, alongside 2,173 surprise inspections between 7 July and 13 July.

Additionally, HPCL’s Quality Assurance Cell completed 93 surprise inspections and 49 fuel samples were tested in mobile laboratories. According to HPCL, no irregularities, contamination, or issues regarding quality compliance were detected during these checks.

HPCL maintains a quality assurance system that includes field inspections, surprise checks and laboratory testing to ensure fuels meet specified standards.

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Kazam has introduced a seven-day programme to assist Charge Point Operators (CPOs) in connecting their existing networks to the Unified Bharat e-Charge (UBC) platform at no initial cost.

The initiative utilises Kazam’s Beckn Provider Platform to facilitate the onboarding of CPOs to the interoperability layer developed by the Ministry of Heavy Industries, BHEL and NPCI.

Unified Bharat e-Charge is designed to provide an open network that allows users to find charging stations, check availability, compare prices and manage payments through compatible applications. CPOs with OCPI-compatible systems can integrate their current management systems, applications, and pricing models into the network.

Akshay Shekhar, Co-Founder and CEO, Kazam, said, “India does not need every charging operator to build another consumer application. It needs every reliable charger to become accessible through an open and trusted network. Through this programme, we want to ensure that the cost of integration does not prevent capable CPOs from participating in Unified Bharat e-Charge. Kazam will provide the provider-side infrastructure so operators can connect their existing ecosystems without rebuilding them from the ground up.”.

Participating CPOs will receive support for network assessment, OCPI integration, protocol enablement, sandbox testing and transaction validation. By joining the network, operators can improve the discoverability of their charging stations while retaining control over their assets, pricing and customer relationships. Kazam is already live on the network, supporting transactions through BHIM and other participants.

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