The Indian electric three-wheeler (E3W) market saw significant growth in 2025, with total retail sales reaching 7,97,733 units, a 15.39% increase from 2024. Mahindra led the market with 95,874 units sold, followed closely by Bajaj with 78,546 units. The growth was driven by fleet operators, government incentives, and improving charging infrastructure in urban and semi-urban areas.
Other notable performers included TVS, which saw exponential growth with 21,006 units sold, and Zeniak Innovation, which more than doubled its volumes to 13,398 units. However, some legacy players like YC Electric, Saera Electric, and Piaggio saw a decline in sales. The “Others” category, which includes numerous regional and small-scale manufacturers, accounted for 3,95,794 units, up 9.92% from the previous year.
The growth of the E3W market is expected to continue, driven by reducing costs and strong policy support. The segment is seen as a key part of India’s electric vehicle adoption story, particularly in commercial mobility. The data highlights the increasing adoption of electric mobility in the last-mile transport space, with fleet operators and government incentives playing a significant role.
The top 5 players in the E3W market in 2025 were:
1. Mahindra – 95,874 units
2. Bajaj – 78,546 units
3. YC Electric – 41,228 units
4. Saera Electric – 24,803 units
5. Dilli Electric – 21,915 units
The growth of the E3W market is expected to have a positive impact on the environment, with a reduction in emissions and pollution. The Indian government has set ambitious targets for electric vehicle adoption, and the E3W segment is expected to play a key role in achieving these targets. Overall, the data suggests that the E3W market is poised for continued growth, driven by increasing demand and supportive policies.