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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Mumbai-headquartered automotive major Mahindra has inaugurated its new Charge_IN ultra-fast electric vehicle (EV) charging network, which consists solely of 180 kW chargers.

The company aims to set up 1,000 charging points across 250 stations by the end of 2027.

The first two Charge_IN stations have already been opened at Hoskote on the Bengaluru – Chennai highway (NH 75) and Murthal on NH44, near Delhi. Both sites include two ultra-fast chargers, capable of charging four EVs at once.

Nalinikanth Gollagunta, Chief Executive Officer - Automotive Division, Mahindra & Mahindra and Executive Director, Mahindra Electric Automobile, said, “Electric mobility is about driving a larger shift towards cleaner, sustainable transportation. XEV 9e and BE 6, with their impressive 500 km real-world range, ensure drivers feel confident on long journeys. Meanwhile, with our ultrafast charging network by Charge_IN we will be creating an open and accessible network for all EV users. Our aim is to make long-distance travel with an electric vehicle effortless and reliable like conventional driving, thereby building customer confidence and accelerating India's transition to electric mobility.”

The 180 kW dual gun chargers can charge Mahindra's eSUV portfolio (XEV 9e, BE 6, and the upcoming XEV 9S) from 20 to 80 percent in 20 minutes. These charging stations will be positioned along major highway corridors and near customer traffic points, co-located with wayside amenities like restaurants and cafes.

Mahindra EV owners can use the Me4U app to discover, charge and pay. Through this app, customers currently access approximately 34,000 public charging points from various operators.

Non-Mahindra EV users can access the stations via the ‘Charge_IN by Mahindra’ app and through other leading aggregator platforms.

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At the Agrovision 2025 exhibition in Nagpur, Mahindra & Mahindra, the world’s leading tractor manufacturer by volume, presented a series of pioneering alternative fuel technologies, signalling a major shift towards sustainable farm mechanisation. The event was attended by prominent government figures, including Union Ministers Nitin Gadkari and Shivraj Singh Chouhan, underscoring the national importance of these agricultural innovations.

The showcased technologies, developed at the company’s Mahindra Research Valley in Chennai, highlight a strategic commitment to reducing emissions and lowering operating costs for farmers. One prominent innovation is a tractor based on the Yuvo Tech+ platform, engineered to operate on either Compressed Natural Gas (CNG) or Compressed Biogas (CBG), as well as in a dual-fuel mode combining diesel with CNG. This provides a practical and cleaner alternative to conventional diesel.

Further advancing its portfolio, Mahindra unveiled an Ethanol Flex Fuel engine. This power unit is designed for flexibility, capable of running on ethanol produced from a variety of farm-sourced materials such as sugarcane, maize and crop waste. This not only offers a sustainable fuel alternative but also creates potential new revenue streams for the agricultural community.

Completing the trio of new technologies was an Electric Tractor built upon Mahindra’s global OJA platform. This model promises significantly reduced operating expenses while delivering instant torque and enhanced efficiency. Its design includes the convenience of fast-charging capabilities, addressing the need for practicality in daily farm operations.

Beyond these alternative fuel prototypes, Mahindra also displayed its comprehensive lineup of conventional, fuel-efficient diesel tractors and farm implements from both the Mahindra and Swaraj brands. This collective display positions Mahindra at the forefront of the industry's move towards a net-zero future. By investing in a diverse range of solutions including electric, biogas and ethanol technologies, the company is championing a sustainable and economically viable pathway for Indian agriculture, aiming to make farming both more profitable and environmentally responsible.

Veejay Nakra – President, Farm Equipment Business, Mahindra & Mahindra Ltd. said, “Mahindra is committed to leading India’s shift to alternate fuel technologies and driving cleaner, smarter and sustainable farming solutions. Our presence at Agrovision 2025 underscores this commitment as we showcase innovative tractors and technologies that will shape the future of Indian agriculture, aligned with the Government of India’s vision towards achieving net-zero carbon emissions by 2070.”

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Bengaluru-based electric vehicle maker Ather Energy has launched the Rizta in Sri Lanka at the Colombo Motor Show 2025. This move, in partnership with Evolution Auto (Ather’s distributor in Sri Lanka), marks a step in Ather’s international growth strategy.

It was in December 2024, Ather Energy began its operations in Sri Lanka in December 2024 with the Ather 450X. The company has established a footprint with 40 Experience Centres run by Evolution Auto. Additionally, the EV maker has installed Ather Grid fast chargers to support EV ownership in the country.

The Rizta has now been introduced following the response to the Ather 450 line-up. The Rizta provides a seat and a 34-litre under-seat storage capacity. It also features a floorboard with leg space. The scooter includes features such as SkidControl for safety, a 7-inch TFT display dashboard, and connected capabilities like Google Maps navigation and music and call control (available with Rizta Z).

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Since entering Sri Lanka last year, it has quickly become a growing market for us, and expanding our portfolio here with the Rizta felt like the natural next step. The Rizta has seen strong acceptance in India for over a year and more recently in Nepal, and we believe it is well-suited for the needs of Sri Lankan riders as well. Its focus on safety and connected capabilities makes it a practical choice for everyday use. With this launch, we aim to deepen our presence in Sri Lanka and continue strengthening the EV ecosystem there."

Ather entered its first international market, Nepal, in November 2023, where it has expanded to 9 Experience Centres and 7 Service Centres. Sri Lanka became the second international market in December 2024. In India, as of 30th September 2025, Ather's retail network included 524 Experience Centres and 3,643 Ather grid fast-charging stations.

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JSW MG Motor India has announced that its MG Windsor electric SUV has surpassed 50,000-unit sales in just over a year.

The company stated that the Windsor is the first electric passenger vehicle in India to achieve this sales mark in record time, reinforcing its position in the country's EV segment. This sales rate translates to five units of the MG Windsor being sold every hour.

Demand for the EV has been observed across major metropolitan and non-metro markets, indicating customer readiness to adopt electric mobility solutions.

Anurag Mehrotra, Managing Director, JSW MG Motor India, said, “When we launched the Windsor EV, our mission was simple yet ambitious: to offer a mobility solution that is practical, stylish and value-driven – while accelerating the adoption of electric vehicles in India. The Windsor EV’s rapid success, achieving 50,000 sales in record time marks a landmark moment in India’s EV journey and demonstrates that customers are embracing this transition with enthusiasm. This milestone energises us to deepen our commitment to New Energy Vehicles. Our vision is to deliver exciting experiences every time and we will continue raising this benchmark as we shape the future of mobility in India.”

The MG Windsor, which the company markets as a CUV (Crossover Utility Vehicle), delivers 100 KW (136ps) of power and 200Nm of torque. It features an ‘AeroGlide’ design and an interior with 'Aero Lounge' seats and a large 15.6-inch Grandview Touch Display.

JSW MG Motor India recently launched the MG Windsor Inspire, a limited-edition series, which was unveiled by Nitin Gadkari, Minister of Road Transport and Highways of India.

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