EV Revolution: India's Electric Vehicle Sales Cross 3 Million Units in FY26
Two-wheelers lead the charge as India becomes the world's third-largest EV market, with Ola, Ather, and TVS dominating sales.
India's electric vehicle market has crossed a significant milestone, with total EV sales surpassing 3 million units in FY26 โ a 65% year-on-year increase. Electric two-wheelers accounted for 78% of sales, followed by three-wheelers (15%) and four-wheelers (7%).
Ola Electric led the two-wheeler segment with a 32% market share, followed by Ather Energy (22%) and TVS (18%). In the four-wheeler space, Tata Motors maintained its dominance with the Nexon EV and Curvv EV, while BYD and MG Motor gained significant ground in the premium segment.
The government's PM E-Drive scheme, which replaced FAME-III, has been instrumental in driving adoption with subsidies of up to โน10,000 per kWh for two-wheelers and โน50,000 for four-wheelers.
Charging infrastructure has expanded rapidly, with over 125,000 public charging stations now operational across India โ a 4x increase from FY24. Highway charging corridors on all major national highways now have fast chargers every 50 km.
Ananya Iyer
Editor
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