India EV Market Trend Update 2025-March/ English
In recent years, the EV market in India has been growing, supported by government EV policies. It is an attractive market with not only startups but also major companies entering the field.
This report provides monthly updates on the rapidly growing EV market in India.
Sales Volume in FY24
- 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 (March 2025)
- 2-Wheelers: Bajaj (34,863 units), TVS (30,454 units), OLA (23,430 units), Ather (15,446 units), Hero (7,977 units)
- 3-Wheelers: MAHINDRA LAST MILE (6,650 units), Bajaj Auto (5,293 units), YC Electric Vehicle (3,451 units), Saera Electric (2,231 units), Dilli Electric Auto (1,734 units)
- 4-Wheelers: TATA (4,678 units), MG Motor (3,859 units), Mahindra (1,615 units), Hyundai (838 units), BYD (390 units)
- Buses: Switch Mobility (113 units), Olectra (76 units), Aero (28 units), PMI (25 units), TATA (24 units)
Recent News (March 2025)
- Tesla's Entry: Tesla plans to open its first showroom in India in April 2025.
- OLA's New Model: OLA will start delivering the Roadster X series in mid-March 2025.
- Government's New Policy: A new EV policy to support Tesla's entry is expected to be announced.
- Delhi EV Policy 2.0: The Delhi state government is expected to announce a new EV policy in April 2025, aiming for a 95% EV adoption rate by 2027, focusing on infrastructure development.
- EV Registrations in FY25: Approximately 2 million EVs were registered in FY25, a 16% increase from 1.68 million in FY24.
- BYD's Manufacturing Facility: BYD plans to build a manufacturing facility near Hyderabad.
- Exponent Energy's Rapid Charging: Bangalore-based Exponent Energy is preparing to launch the world's first 1.5MW ultra-rapid charging system later this year.
- Rajasthan's EV Subsidy Portal: Rajasthan state will launch a subsidy portal for EV owners next month.
Download this report
Download PDF
For full report, refer to this link.