- EV registrations in India rose 23% to 24.3 lakh units in FY26, marking record growth
- Electric four-wheelers saw an 80% jump in registrations to 1.97 lakh units in FY26
- Electric two-wheelers led volumes with 13.9 lakh units, growing 21% year-on-year
EV demand in India is back in focus amid crude price volatility linked to the West Asia conflict. While this could accelerate adoption, experts say sustained momentum is being driven by policy support and new EV launches.
Even the momentum is already visible in the latest data from VAHAN. As India's EV industry has logged its fifth consecutive year of growth, with registrations rising 23% year-on-year to 24.3 lakh units in FY26, according to the VAHAN Portal. This marks the first time EV registrations have crossed the 20 lakh milestone, up from 19.7 lakh units in FY25, which had itself grown nearly 17% over the previous year.
Growth trends varied across segments. Electric four-wheelers recorded the sharpest increase, with registrations jumping over 80% to 1.97 lakh units, compared with 1.08 lakh units in FY25, indicating accelerating adoption from a relatively low base.
Electric two-wheelers continued to dominate volumes, with 13.9 lakh units registered in FY26, up 21% from 11.5 lakh units a year earlier, underscoring their central role in India's EV transition.
Electric three-wheelers also maintained steady traction, with registrations rising 18% to 8.27 lakh units, driven largely by demand from commercial and last-mile mobility segments.
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Among manufacturers, Tata Motors Passenger Vehicles retained its leadership in the electric car segment with 77,400 units sold in FY26. It was followed by JSW MG Motor with 52,500 units and Mahindra & Mahindra with 39,800 units.
In the electric two-wheeler segment, TVS Motor Company remained the market leader with 3.39 lakh units, followed by Bajaj Auto at 2.86 lakh units and Ather Energy at 2.37 lakh units.
Industry players say the demand drivers are becoming more structural. Tata Motors noted a broader increase in consumer interest, driven by lower total cost of ownership, improving charging convenience, and rising awareness around energy security and sustainability. The company reported over 92,000 EV sales in FY26, up 43% year-on-year, along with higher enquiry volumes across dealerships.
At the same time, Maruti Suzuki is seeing encouraging early traction for its debut EV, the E-Vitara, with around 2,000 enquiries per day. However, the company highlighted challenges around charging infrastructure, particularly the lack of adequate power backup at homes for installing chargers.
With EV volumes already crossing a record high and adoption broadening across segments, any sustained increase in fuel prices or supply constraints could significantly accelerate the transition, potentially turning the current growth trajectory into a sharper, structurally driven shift towards electric mobility.
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