The Indian electric three-wheeler (E3W) sector concluded the 2025 calendar year with a total of 7,97,733 retail units sold, representing a 15.39% increase over the 6,91,313 units recorded in 2024. This growth, documented by FADA Research, indicates a steady transition toward electric propulsion within the last-mile logistics and passenger transport segments, supported by evolving infrastructure and fleet adoption.
Major Manufacturers and Market Dynamics
Mahindra retained its position as the market leader, registering 95,874 units in 2025. This performance reflects a 40.94% year-on-year growth compared to its 68,023 units in the previous period. Bajaj followed as a primary challenger, nearly doubling its retail footprint with 78,546 units, a sharp 87.35% increase that highlights the company\’s rapid scaling in the electric segment.
One of the most significant shifts in the competitive landscape came from TVS, which transitioned from a marginal player with 559 units in 2024 to recording 21,006 units in 2025. This exponential growth underscores the impact of established automotive OEMs entering the mass-market electric rickshaw and cargo space.
Performance Trends Among Specialized OEMs
While the overall market expanded, several established electric-only manufacturers experienced a contraction in volumes. The following brands saw year-on-year declines:
- YC Electric: 41,228 units (down 6.24%)
- Saera Electric: 24,803 units (down 12.33%)
- Dilli Electric: 21,915 units (down 12.49%)
- Piaggio: 14,832 units (down 31.89%)
Conversely, mid-sized players like Zeniak Innovation and Terra Motors posted positive gains, with Zeniak more than doubling its volume to 13,398 units. Terra Motors recorded a 20.18% increase, finishing the year with 10,535 units.
Market Fragmentation and Regional Insights
The E3W segment remains notably fragmented. The \”Others\” category, which includes numerous regional and small-scale manufacturers, accounted for 3,95,794 units, representing nearly half of the total market volume. This sub-sector grew by 9.92% year-on-year, suggesting that local brands continue to play a critical role in regional market penetration.
The retail data, collated in collaboration with MoRTH, covers 1,401 RTOs across India but excludes figures from the state of Telangana. The 2025 results reinforce the electric three-wheeler\’s status as a primary driver of EV adoption in India\’s commercial mobility landscape.
