India’s electric vehicle market shows mixed performance in February 2025, reflecting both resilience and sector-specific fluctuations. According to the latest figures from the Federation of Automobile Dealers Associations (FADA), electric passenger vehicles and commercial electric vehicles exhibited growth, while electric two-wheeler and three-wheeler segments showed varied trends.
Electric Two-Wheelers
The electric two-wheeler (E2W) market accounted for 5.6% of total two-wheeler sales in February 2025, a marginal decline from 6.4% in January 2025 and 5.7% in February 2024. Overall, E2W sales fell by 22.15% MoM and 8.05% YoY, indicating a short-term market correction.
Bajaj Auto led the segment, selling 21,389 units, reflecting a significant 81.82% YoY growth, while TVS Motor Company registered 18,762 units, declining 21.20% MoM but maintaining a 28.16% YoY increase. Ola Electric, a key player, witnessed a steep drop of 64.47% MoM and 74.61% YoY, with only 8,647 units sold. Ather Energy recorded 11,807 units, reflecting a 29.80% YoY growth despite an 8.52% MoM decline. River Mobility showed remarkable progress with a 617.86% YoY increase, albeit on a small base, selling 603 units.
Electric Three-Wheelers
Electric three-wheelers (E3W) remained the strongest category, holding a 56.4% market share, up from 52.7% in February 2024. However, MoM sales saw an 11.41% decline, with total retail figures standing at 53,116 units. YoY growth remained positive at 4.95%.
Mahindra Group led the segment with 5,874 units, showing a 17.55% YoY increase. Bajaj Auto displayed the highest YoY growth at 232.32%, though MoM sales fell by 14.41%. Omega Seiki also registered a sharp 122.09% YoY growth, selling 1,106 units. Despite these positive numbers, other leading brands such as YC Electric and Piaggio experienced double-digit declines.
Electric Passenger Vehicles
Electric passenger vehicles continued their upward trajectory, achieving a 3.0% market share, an increase from 2.2% in February 2024. YoY sales surged by 18.95% to 8,968 units, despite a 20.40% MoM drop from January 2025.
Tata Motors retained its dominant position, selling 3,825 units, though this marked a 25.63% YoY and 24.21% MoM decline. MG Motor India saw impressive growth, reaching 3,270 units—a 198.36% YoY increase, despite a 22.82% MoM drop. Hyundai Motor India made significant gains, increasing 481.10% YoY and 129.91% MoM, selling 738 units. Mahindra & Mahindra and BYD India also posted steady YoY gains.
Electric Commercial Vehicles
Electric commercial vehicles (ECV) crossed the 1% market share threshold, standing at 1.03%, up from 0.94% in February 2024. Total sales reached 856 units, a modest 1.1% YoY increase, though MoM figures declined by 11.93%.
Switch Mobility showed the most significant YoY jump at 551.9%, reaching 176 units, followed by Mahindra Group’s 169.8% increase with 116 units sold. Pinnacle Mobility Solutions also expanded rapidly, posting a 200.0% YoY rise. However, Tata Motors, the segment leader, saw a 46.3% YoY decline, reflecting broader challenges in commercial EV adoption.
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