India EV Market Trend Update 2025-January/ English
Overview
In recent years, the EV market in India has been growing significantly, driven by government policies. This market is attracting not only startups but also major companies.
This report provides a monthly update on the rapidly growing EV market in India.
FY24 Sales Figures
E-2 Wheelers: 944,126 units
E-3 Wheelers: 632,485 units
E-4 Wheelers: 90,432 units
E-Buses: 3,693 units
Top EV Brands (January 2025)
2-Wheelers:
OLA: 24,354 units, TVS: 23,856 units, Bajaj: 21,346 units, Ather: 12,947 units, Ampere: 3,611 units
4-Wheelers:
TATA: 5,083 units, MG Motor: 4,308 units, Mahindra: 680 units, Hyundai: 325 units, BYD: 321 units
Recent News (January 2025)
- Union Budget 2025-2026: The federal government is preparing the budget, with industry stakeholders requesting subsidies and tax reductions to address manufacturing and consumer challenges.
- Battery Swapping: Currently deemed unviable by major electric two-wheeler manufacturers due to low average daily travel distances.
- Skoda's Investment: Skoda is considering investing in India's new EV policy, which offers import duty subsidies for manufacturers investing over $500 million.
- Kia's New SUV: Kia is developing a three-row hybrid SUV to compete with Mahindra XUV700 and TATA Safari.
- BYD's New Model: BYD launched the SEALION 7 EV in India, with deliveries starting in March 2025.
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