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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Ashok Leyland, one of the leading commercial vehicle manufacturers, has launched a nationwide initiative titled ‘GET ZET - Electric Truck Awareness to Acceptance’ in partnership with the Centre of Excellence for Zero Emission Trucking (CoEZET) at IIT Madras. The initiative will run from September 2026 to February 2027, the campaign will cover 40 cities across India to promote the commercial deployment of battery-electric trucks.

The roadshow will traverse logistics hubs and industrial corridors across 15 states, including Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, Telangana, Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Rajasthan, Haryana, Uttar Pradesh, Delhi, Punjab and Himachal Pradesh. The events will convene fleet owners, logistics operators, financiers, freight providers, infrastructure developers and policymakers.

As part of the campaign, Ashok Leyland and CoEZET will showcase the BOSS Electric truck alongside charging infrastructure, offering trial rides and technical demonstrations to evaluate real-world vehicle performance and operational requirements.

Shenu Agarwal, MD & CEO, Ashok Leyland, said, “The transition to zero-emission mobility will be defined not just by the maturity of technology, but by the confidence of the users to adopt it at scale. At Ashok Leyland, we believe the best way to build that confidence is by taking electric trucking closer to the people who will use and enable it. Through ‘GET ZET - Electric Truck Awareness to Acceptance’, in collaboration with Centre of Excellence for Zero Emission Trucking (CoEZET), IIT Madras, we are bringing the electric truck technology to 40 cities, creating opportunities for customers and stakeholders to experience its real-world potential first-hand. This is a step towards making electric mobility more accessible, practical and ready for the future of India’s freight ecosystem.”

Manu Santhanam, Dean (ICSR) at the Indian Institute of Technology, Madras, said, “CoEZET, IIT Madras has been working towards the adoption of zero-emission trucks since 2022, with a vision of achieving 100 percent ZET penetration by Viksit Bharat 2047. Our work spans policy, technology, skilling and outreach. The current Outreach Acceptance Initiative builds on our earlier awareness activities across hundreds of locations and focuses on enabling stakeholders to experience, evaluate and build confidence in battery electric trucks, as we move towards the next phase of adoption. Through in-depth interactions and hands-on trial rides, we aim to demonstrate the quieter, smoother and more comfortable experience of electric trucks, while helping address driver concerns and build greater acceptance among the trucking community. We are glad to collaborate with industry partners such as Ashok Leyland in this effort and look forward to engaging with a wider range of stakeholders to strengthen acceptance and enable the wider adoption of zero-emission trucks in India.”

The joint programme forms part of broader efforts to support zero-emission freight transportation across key national transport corridors.

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Bengaluru-based electric vehicle company Ultraviolette Automotive has confirmed that its upcoming Shockwave e-motorcycle will be built on the company's 100V architecture, with commercial launch scheduled for Q1 of 2027. The high-voltage platform is engineered to improve power delivery, thermal efficiency and charging speeds for the motorcycle.

The Shockwave, categorised under the FUNDURO platform, is designed as a lightweight model inspired by two-stroke motorcycles. Ultraviolette confirmed that the vehicle will be offered in both single-seat and dual-seat configurations. To prepare for the Q1 2027 rollout, the company has begun installing a dedicated production line within its existing manufacturing facility in Bengaluru.

The decision to utilise the 100V architecture follows Ultraviolette’s earlier announcement that the same powertrain technology would be deployed in its Tesseract model. While the Shockwave and Tesseract target different riding applications, both models have been developed in parallel over the past year as part of the manufacturer's powertrain strategy.

Narayan Subramaniam, Co-Founder and CEO, Ultraviolette Automotive, said, “From the outset, we envisioned the Shockwave as a motorcycle that would bring back the pure enjoyment of riding. Bringing our 100V architecture to the Shockwave is an important step in realising that vision. When it launches in Q1 2027, we are certain it will be an exceptionally engaging motorcycle to ride. The Shockwave and Tesseract have been in parallel development over the past year and work is already underway to set up the Shockwave production line at our existing facility.”

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Chennai-headquartered Switch Mobility, the electric vehicle arm of Hinduja Group, has secured an order to supply 840 electric buses to Antony Road Transport Solutions under Phase I of the Government of India’s PM E-Drive scheme.

Under the agreement, Switch Mobility will supply 420 units of 9-metre and 420 units of 12-metre air-conditioned electric buses. Antony Road Transport Solutions was selected as the operator to deploy the fleet with the Delhi Transport Corporation (DTC) and the Transport Department, Delhi, for public transit operations across the National Capital Region.

Formal agreements for vehicle deployment have been executed between Switch Mobility and Antony Road Transport Solutions. The e-buses are constructed on Switch's EiV platform, which incorporates electric powertrains, modular battery layouts, regenerative braking systems and dual-gun fast-charging capabilities. Fleet monitoring and diagnostic functions are managed through the Switch iON software system. Safety and passenger features include low-floor entry, fire detection and suppression equipment, and multi-level battery protection measures.

Ganesh Mani, CEO, Switch Mobility, said, “We are pleased to partner with Antony Road Transport Solutions for deployment of 840 electric buses across Delhi by Delhi Transport Corporation & Transport Department, Delhi. This order is a strong testament to the growing confidence in electric mobility solutions for large-scale public transportation. With a mix of 9-metre and 12-metre electric buses, we are enabling operators to address diverse passenger mobility requirements while supporting the transition towards cleaner and more sustainable transportation. At Switch Mobility, we remain committed to working closely with our partners to deliver reliable, efficient and commercially viable electric mobility solutions that create long-term value for operators and communities.”

Jimmy John, Director, Antony Road Transport Solutions, said, “Our long-term relationship with Ashok Leyland and the trust we have in the Hinduja Group have led us to place this order. We believe this partnership will go a long way towards supporting the NCR’s sustainable mobility journey.”

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Electric vehicle charging network Charge_iN by Mahindra has expanded its public charging infrastructure to 50 locations across India, reaching 200 operational charging points. The company commissioned its latest installation at the HP Auto Care Centre in Sajgaon along the Mumbai-Pune Expressway.

The Sajgaon installation represents the first operational station resulting from a collaboration established in March 2026 between Mahindra and Hindustan Petroleum Corporation (HPCL) to deploy charging infrastructure across HPCL retail outlets in India. Additional sites under the agreement are currently under construction across highway routes. Mahindra plans to expand the Charge_iN network to 250 stations comprising approximately 1,000 charging points by December 2027.

The network utilises 180 kW dual-gun chargers designed to supply power to electric vehicles, including Mahindra models such as the XEV 9e, BE 6 Sporteq and XEV 9S. The stations are situated along highway corridors alongside commercial amenities and dining facilities.

The Charge_iN system operates as an open network accessible to electric vehicle owners of all vehicle brands through the Charge_iN by Mahindra application, the Me4U application, and third-party aggregator platforms, with integration into the HP eCharge application scheduled for release. Mahindra electric vehicle users can access approximately 35,000 public charging points, including HP eCharge sites, across charge point operators via the Me4U platform.

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