This festive month of Oct proved to be nothing short of impressive for India’s electric vehicle (EV) industry. Total EV registrations reached an all-time high, with every segment of battery-powered vehicles experiencing positive growth. Electric two-wheelers alone raced past the one-million-unit milestone for the calendar year — with two months still to go.
This growth across EV categories came amid concerns over a possible loss of momentum in EV volumes due to production challenges arising from magnet availability issues and the recent GST rate cut for ICE vehicles, which reduced the price gap between the two segments.
Total EV registrations (including all segments of battery-operated vehicles) stood at about 2.34 lakh units — the highest-ever monthly registrations recorded to date. The growth was about 5per cent year-on-year and 27per cent sequentially.
Oct also proved to be a record month for the electric two-wheeler (E2W) segment, which reported its highest monthly volumes to date at 1.44 lakh units, up 3per cent YoY and 37per cent MoM, supported by the festive season and renewed retail traction.
The electric passenger vehicle segment (including e-cars and e-SUVs) also reported a surge in volumes amid the reduced price gap between EVs and ICEs. Total registrations stood at 17,874 units, compared with 11,428 units in October 2024 and 16,346 units in September this year.
Electric three-wheelers (excluding e-rickshaws) grew to 70,604 units, compared with 67,173 units in October 2024 and 61,044 units in September this year.
In the electric two-wheeler segment, Bajaj Auto emerged as the leader with sales of 31,207 units (up from 19,689 units in September), followed by TVS Motor with 29,494 units (up from 22,665 units) and Ather with 28,082 units (up from 18,297 units). Ola Electric’s sales increased to 16,034 units (13,421 units in Sept. “While retail remained robust, magnet availability continues to pose challenges in the short to medium term,” according to TVS Motor.
Hero MotoCorp and Greaves Electric Mobility reported their highest-ever monthly volumes for this calendar year, at about 15,947 units and 7,629 units, respectively, as per data from the Vahan Dashboard.
In the electric passenger vehicle segment, Tata Motors retained the number one position with registrations of about 7,150 units (up from 6,616 units in Sept 2025), while JSW MG Motor sold 4,525 units, up from 4,165 units in September. Mahindra Group sold about 3,875 units, up from about 3,400 units, while new entrant Vietnamese firm VinFast sold 131 electric cars.
