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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BYD India has announced the opening of bookings for the Sealion 7 First Anniversary Edition, a performance electric SUV. Reservations commenced on 17 March 2026 with a booking amount of INR 70,000.

The Sealion 7 is available in two variants – Sealion 7 Premium (82.56 kWh) at INR 4.94 million and Sealion 7 Performance (82.56 kWh) at INR 5.49 million. The first 1,100 customers who book by 30 April 2026 will receive an 11 kW home charger with installation and two years of free maintenance. This edition also features an 8-year or 150,000 km warranty on the Lithium Iron Phosphate (LFP) Low Voltage Battery, alongside a standard 8-year or 160,000 km warranty on the high-voltage battery.

The SUV utilises Cell-to-Body (CTB) technology, where the Blade Battery serves as a structural component of the chassis. It also features Intelligence Torque Adaptation Control (iTAC) to manage driving dynamics.

Performance and range figures (NEDC) include:

• Performance Variant: zero to 100 kmph in 4.5 seconds; 542 km range.
• Premium Variant: zero to 100 kmph in 6.7 seconds; 567 km range.

The exterior features ‘Ocean X’ styling, while the First Anniversary Edition introduces a Tahiti Blue interior. The cabin is equipped with a 15.6-inch rotating touchscreen, a 12-speaker Dynaudio system and Vehicle-to-Load (VTOL) capability, allowing the car to power external devices.

Since its introduction at Bharat Expo 2025, the Sealion 7 has recorded sales exceeding 2,500 units in India.

Rajeev Chauhan, Head of Electric Passenger Vehicles Business, BYD India, said, “The BYD Sealion 7 represents the next generation of performance electric SUVs, combining advanced technology, distinctive design, and everyday practicality. The First Anniversary Edition celebrates this journey while bringing additional value to our customers. With exclusive benefits for the first 1100 customers only and enhanced ownership advantages such as the 8-year Low Voltage Battery warranty, we aim to make premium electric mobility even more compelling for Indian consumers.”

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Bengaluru-based electric vehicle manufacturer Ather Energy has announced the expansion of its service network to 500 authorised centres nationwide. The company nearly doubled its service footprint in the 2026 fiscal year, increasing from 277 to 500 locations in alignment with its retail growth.

The expansion includes the deployment of Gold Service Centres, which feature standardised lounges and maintenance equipment. To reduce turnaround times, the company has implemented the ExpressCare initiative at 82 centres, allowing for periodic maintenance to be completed within 60 minutes.

Ather’s service network now covers Tier-1, Tier-2, and emerging cities, supporting the Ather 450 performance range and the Rizta family scooter. The company plans to increase its retail presence to 700 Experience Centres by the end of FY2026, up from 600 centres recorded on 31 December 2025.

Furthermore, as of 31 December 2025, the Ather Grid consists of 4,357 fast-charging points and neighbourhood chargers. This infrastructure is intended to provide comprehensive support for the increasing user base across India.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Crossing 500 service centres is an important milestone as we continue to scale our retail footprint and customer base across the country. From the early days, we have focused on building service capacity alongside sales because reliable after-sales support is a core part of the overall ownership experience. As our presence grows, having a strong service network becomes even more critical. Our focus is on ensuring that riders have access to trained technicians, transparent processes, and consistent service quality wherever they are.”

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Ultraviolette and Bolt.Earth have announced a collaboration to deploy a nationwide interoperable Type-6 DC charging network. The initiative focuses on scaling charging infrastructure for the two-wheeler and three-wheeler electric vehicle (EV) segments.

Type-6 is the recognised national standard for light EV DC charging in India, published by the Bureau of Indian Standards as IS 17017. It is also internationally standardised as IEC 62196-6.

The charging technology is based on 3kW DC charging. The Ultraviolette e-motorcycle can be charged from zero to 80 percent in approximately 2.5 hours and to 100 percent charge in 3.5 hours.

The system incorporates a multi-layer safety architecture, including over/under voltage protection and short circuit protection; earth detection & reverse polarity protection and emergency push button for industrial reliability.

The public charging services is currently live in Kerala, Maharashtra, Telangana, Karnataka, Delhi, Gujarat and Tamil Nadu. The partners plan to upgrade 50 stations over the next two months, with a long-term goal of deploying 2,000 chargers within a 24-month horizon.

Bolt.Earth will also introduce 6kW and 12kW Blaze DC chargers to support high-density routes. All new installations are compatible with the Ultraviolette product range, as the vehicles are built using the Type-6 interface.

Niraj Rajmohan, Co-founder & CTO, Ultraviolette, said, “Ultraviolette’s vision is to push the boundaries of electric mobility not only through product innovation, but by helping shape the ecosystem that will power the future of mobility. Our collaboration with Bolt.Earth is an important step in advancing Type-6 Fast Charging infrastructure in India - an interoperable, scalable standard built specifically for the needs of 2W and 3W EVs. Ultraviolette vehicles already adopt the Type-6 interface, and this collaboration expands real-world charging access on a nationally recognized standard. As public charging infrastructure evolves, interoperability will be critical to accelerating EV adoption, improving rider confidence, and enabling the next stage of growth for electric mobility in India.”

S Raghav Bharadwaj, CEO & Co-Founder, Bolt.Earth, commented, “Easy access to fast charging is the foundation of a truly scalable EV ecosystem in India, especially during the transitional period. It must feel as natural as refueling, always within reach. With Blaze DC, we’ve integrated the Type 6 connector to create India’s first universal fast charger for two- and three-wheelers, built to work seamlessly with what exists today and what’s coming tomorrow. This isn’t about creating new standards but ensuring that the right one is adopted at scale. In the months ahead, Blaze DC will be deployed across major metros, and in years to come, it will form the backbone of everyday charging nationwide.”

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Vietnamese automotive company VinFast has announced a three-year extension of its free charging policy across its operational markets. The incentive applies to all private customers and commercial operators, including drivers on the Green SM ride-hailing platform.

Vingroup, the parent company of VinFast, had recently introduced the ‘Trade Gas for Electric’ programme in India, Indonesia, the Philippines and Vietnam. Running from 11 March to 31 March 2026, the initiative provides a 3 percent discount on electric cars and a 5 percent discount on electric scooters for customers transitioning from petrol vehicles. This offer can be combined with existing market-specific incentives.

Additionally, the ‘GreenForAll’ programme offers a 10 percent discount to users of Green SM electric taxi services in Indonesia, Laos and Vietnam during the same period.

The free charging policy is supported by the V-Green charging network, which is undergoing expansion across Asian and international markets. VinFast’s strategy to promote electric vehicle (EV) adoption includes:

• Battery subscription programmes to reduce initial purchase costs.
• Resale value guarantees for used vehicles.
• Flexible payment options and warranty coverage.

Duong Thi Thu Trang, Deputy CEO, Global Sales at VinFast, stated, “VinFast’s initial free charging policy received strong support from consumers, both in Vietnam and in international markets where VinFast operates. Extending this policy for another three years is the next step in our strategy to accelerate the adoption of electric vehicles. VinFast believes that when operating costs are optimised to nearly zero, consumers will have greater confidence and motivation to switch to green mobility, while also contributing to the greening of transportation systems in these countries.”

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