India EV monthly Report – August 2026
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Summary
This monthly EV report highlights key developments in India’s electric vehicle ecosystem for August 2026, covering sales trends, segment performance, product launches, policy updates, and investments.
Sales Trends
Overall EV sales declined by 9.66% m-o-m to 2,97,820 units in August 2026, following the record 3,29,661 units sold in July. Despite the monthly decline, EV sales grew 59.54% y-o-y compared with August 2025, while overall EV adoption reached 12.28%, highlighting the continued long-term growth momentum of electric mobility in India.
Segment-wise Performance
- Electric Two-Wheelers (E2W): Sales declined by 11% m-o-m to 1,82,936units while registering a 68% y-o-y increase. The top three players accounted for ~65% of total registrations.
- Passenger Electric Three-Wheelers (E3W-P): Sales declined to 69,232 units (-8% m-o-m, +26% y-o-y).
- L3: 28,811 units
- L5: 40,421 units
- Cargo Electric Three-Wheelers (E3W-Cargo): Sales declined to 10,612 units (-12.93% m-o-m, +25% y-o-y).
- L3: 6,029 units
- L5: 4,583 units
- Electric Cars (E-Cars): E-cars marked the highest monthly sales with 30,317 units (9% m-o-m, +59% y-o-y). Tata Motors (42.83%) led the market, followed by Mahindra (21%). Vinfast captured over 7% share to be in the top four position.
- Electric Buses (E-Bus): E-Buses marked the highest monthly sales with 908 units (+66% m-o-m, +130% y-o-y). Olectra Greentech (34.7%) led the market, followed by JBM Auto and Eka Mobility with ~17% each.
- Electric Trucks (E-Truck): E-Trucks marked the highest monthly sales with 3,794 units (+17.9% m-o-m, +219% y-o-y). Light Goods Vehicles (LGVs) dominated the segment with a 78% share, while Heavy Goods Vehicles (HGVs) accounted for the remaining 22%.
Key Developments
- Product Launches: 7 new launches have been recorded, including 1 PHEV
- Policy Updates: 15 updates (7 state, 8 central), including Extension for E2Ws subsidy under PM E-Drive scheme till March 2028.
- Charging Infrastructure: 9 developments, including 67,657 EV chargers installed pan India as per BHEL.
- E-Bus Developments: 11 updates, including the 71 E-Buses deployed across Rajasthan under PM E-Bus Sewa.
- Key Manufacturing updates: 4 updates, including Euler Motor’s INR 100 crore investment in a new plant for 4W light commercial vehicles.
- Investments & Partnerships: INR 2,349 crore investments including River Mobility’s INR 1141 crore fund raise for capacity expansion and 11 new partnerships, including collaboration between Hyundai Motors and Jio-BP for EV charging infrastructure.