EVreporter India EV Report FY 2024-25 | Excerpts

June 24, 2025 EV Sales 5 min read

India EV Sales| FY24-25 vs FY23-24 vs FY22-23

Source: Vahan Dashboard Data (Apr 2024-Mar 2025) as per 1378 out of 1479 RTOs across 35 out of 36 state/UTs and Telangana Regional Transport portal (Apr 2024-Mar 2025).

Note – Low-speed e-2w data not included. ‘Others’ includes Forklift, Adapted Vehicle, Crane mounted vehicle etc.

‘Goods Carrier’ refers to 4W cargo vehicles, including LCVs and HGVs, as categorised in Vahan dashboard. ‘E-rickshaw’ refers to low-speed electric 3Ws (up to 25 kmph) used for passenger transportation. ‘E-cart’ designates low-speed electric 3Ws (up to 25 kmph) used for goods transportation. ‘L5M’ stands for passenger 3W L5 vehicles, while ‘L5N’ stands for Cargo 3W L5 vehicles.

Observations:

In FY 2024-25, 20,37,831 units of electric vehicles were sold in India.

EV sales for FY 2024-25 show a 15.68% YoY growth from 17,61,520 units sold in FY 2023-24. 12,46,634 units of EVs were sold in FY 2022-23.

EVs accounted for 7.8% of overall automobile sales in India in FY 24-25. In FY 23-24 and FY 22-23, EVs accounted for 7.2% and 5.6 % of overall automotive sales in India, respectively.

High-speed e-2Ws, with sales of 12,09,772 units in FY 2024-25, registered the highest segment share and a massive 19.1% growth over the FY 2023-24 numbers.

4,74,503 e-rickshaws and 65,060 e-carts were sold in India in FY 2024-25.

1,15,800 units of electric four-wheelers were registered in FY 2024-25, marking a year-on-year growth of 15%.

In FY 2024-25, the highest YoY growth (89.7%) was observed for the passenger e-3W L5M segment, followed by e-carts (59.5%).

E-4Ws grew at 14.6%, whereas e-2Ws sales grew at 19.1% this year.

E-carts sales grew at 59.5%, and e-Goods carriers (4W) sales grew at 6.7% in FY 24-25.

The e-rickshaws, e-L5N, and e-buses segments recorded fewer sales in FY25 compared to FY24.

The rate of yearly growth was muted across all vehicle categories as compared to FY 2023-24.

Vehicle Category-wise EV Penetration in FY24-25 vs FY23-24

Note – 3W E-rickshaw and E-carts not considered for calculation of segment-wise EV penetration.

L5M – passenger 3W L5 vehicles | L5N – Cargo 3W L5 vehicles

In FY 2024-25, the penetration of electric vehicles in the passenger 3W category (L5) reached an impressive 22.8%, up from 12.6% penetration in FY 2023-24.

EV penetration in the cargo 3W L5 category declined from 25.3% to 21.5% in FY 2024-25.

EV Penetration for 2Ws marked a slight increase of 0.6%, making for 6.2% of total 2W sales in India in FY 2024-25.

EV penetration in 4W segment increased to 2.7% in FY 2024-25, up from 2.4% in the last FY.

Vehicle Category-wise EV Sales India | FY24-25 vs FY23-24

Source: Vahan Dashboard Data (Apr 2024-Mar 2025) as per 1378 out of 1479 RTOs across 35 out of 36 state/UTs and Telangana Regional Transport portal (Apr 2024-Mar 2025). Low speed e2W data not included.

Observations:

Total EV sales in India were 20,37,831 units in the financial year 2024-25.

Electric two-wheelers accounted for 59.4% of the total EV sales, up from 57.6% in FY 2023-24, followed by e-rickshaws with a 23.3% share in FY 2024-25, down from 27.8% in the previous year. High-speed (L5) electric three-wheeler passenger and four-wheelers made up 6.6% and 5.7% of the pie, respectively.