India EV monthly Report – April 2026
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Summary
This monthly EV report highlights key developments in India’s electric vehicle ecosystem for April 2026, covering sales trends, segment performance, product launches, policy updates, and investments.
Sales Trends
Overall EV sales declined by 14% m-o-m, falling from 2,79,323 units in March 2026 to 2,39,045 units in April 2026, indicating a post-FY-end slowdown. However, sales grew by 43% y-o-y compared to April 2025.
Segment-wise Performance
Electric Two-Wheelers (E2W):
Sales stood at 1,48,740 units, down 22% m-o-m but up 55% y-o-y. The top three players accounted for ~66% of total registrations.
Passenger Electric Three-Wheelers (E3W-P):
Sales reached 53,569 units (+2.22% m-o-m, ~1.75% y-o-y).
- L3: 28,151 units
- L5: 25,418 units
Mahindra led the L5 segment (35.83%), while YC Electric led the L3 segment (4.10%).
Cargo Electric Three-Wheelers (E3W-Cargo):
Sales stood at 10,980 units (-1% m-o-m, ~11% y-o-y).
- L3: 7,742 units
- L5: 3,238 units
Mahindra led the L5 cargo segment (~19.83%), while J.S. Auto led the L3 cargo segment (~6.73%).
Electric Cars (E-Cars):
Sales reached 23,338 units (+5% m-o-m, +71% y-o-y).
Tata Motors led (~36.61%), followed by Mahindra (~23.19%).
Maruti Suzuki captured ~5.27% share within four months of entry.
Electric Buses (E-Bus):
Sales stood at 347 units (-38% m-o-m, +22% y-o-y).
PMI Electro Mobility led (~31.99%), followed by JBM Auto (~18%).
Key Developments
- Product Launches: 13 new EV launches across E2W, E3W, and E4W segments
- Policy Updates: 15 updates (9 state, 6 central), including outreach to 14 nations under the magnet scheme
- Manufacturing: 4 updates, including a INR 2,550 crore cathode material project in Andhra Pradesh
- Charging Infrastructure: 10 developments (9 charging, 1 swapping), including a major fast-charging station at Anand Vihar
- E-Bus Developments: 8 updates, including deployment of 200 new e-buses in Delhi
- Investments & Partnerships: INR 205.65 crore investments and 10 new partnerships, including collaboration between Hyundai Motor and TVS Motor