Market trends

India’s EV Penetration Reached 8.5% in FY2025-26 India’s electric vehicle (EV) market delivered another strong year in FY2025-26, with total registrations going past 25 lakhs units, a 24% year-on-year increase. Moreover, EV penetration reached around 8.5% of total registrations, up from 7.7% in the previous financial year. While this indicates that EV adoption continues to strengthen, the market still remains behind the government’s long-term target of 30% EV penetration by 2030. While the market is price-sensitive, the growth drivers varied…

Mandatory Registration of all Electric Rickshaws across States in India India’s electric three-wheeler (e3W) segment has emerged as a major contributor to EV adoption, accounting for around 28.73% of total EV registrations across all vehicle categories between CY2017 and CY2025. Despite this scale, reported sales figures do not always reflect real market behaviour on the ground. Adoption of electric rickshaws is also highly uneven across the country and concentrated in a few key states. Between CY2017-CY2025, Uttar Pradesh alone accounted…