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India’s electric vehicle sales continue gradually growing across almost all segments, helping the country get closer to its goal of going carbon neutral by 2070
EV sales may be declining in Western markets, but in India, EV penetration is still at a nascent stage and sales continue to rise. In FY2025 (April 2024-March 2025), more than 20 lakh EVs were sold in India for the first time.
According to a new report from JMK Research, 20,26,184 electric vehicles were sold in India between FY2025. Compared to FY2024 (April 2023-March 2024), this marked a year-over-year growth of 2,69,075 units or 15.31%.
Two-wheelers dominate the electric vehicle space in India. 12,03,223 units or 59.38% of the total EVs sold in our market last year. Compared to FY2024, sales were up 1,90,061 units or 18.76%. Ola Electric, TVS Motor, and Bajaj Auto were the top three most popular brands, followed by Ather Energy and Hero MotoCorp, all in descending order. While Ola Electric retained its pole position, its market share declined 4.74% year-over-year to 29.76%.
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Electric three-wheelers were in the second spot in FY2025, accounting for 7,02,799 units or 34.69% of the total EV sales. This segment registered a year-over-year growth of 67,670 units or 9.63%. As always, almost all the e-3W sales came from passenger models. Mahindra Last Mile Mobility was the leading brand among electric three-wheelers, holding a market share of 10.23% in the passenger category and 8.42% in the cargo category. Bajaj Auto ranked second, while YC Electric was in the third spot, in both categories.
Cars contributed just 1,10,748 units or 4.57% to EV sales in India in FY2025, rising by 10,915 units or 9.86% over FY2024. Tata Motors was the no.1 brand, with a 53.10% share, but compared to FY2024, its market share declined sharply by 15.9%. MG, the second most popular brand, captured most of its lost market share, growing 14.43% over FY2024 to 28.17%. Mahindra was in the third spot, with a 7.73% market share.
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Electric buses, one of the most expensive EVs on the market, saw a minor drop in sales last fiscal. 3,570 units were sold in FY2025, 130 units or 3.64% less than in the preceding year. Here, too, while Tata Motors held the top position, its popularity declined significantly. The company held a market share of 29.64% in FY2025, down 18.94% over FY2024. Olectra GreenTech, which was in the second spot, increased its market share by 10.36% over FY2024 to 25.83% in FY2025.
Considering just 2,344 units were sold in FY2015, EV sales have grown exponentially over the last 11 years. In total, 61,65,964 EVs have been sold during this period, and there are 26,367 public charging stations spread across the country to serve the growing EV fleet.
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