Mahindra, Bajaj, TVS Lead the Charge as Electric 3-Wheeler Sales Hit Record High in October

India's electric three-wheeler market reached a new high in October, driven by the strong performances from major manufacturers like Mahindra Last Mile Mobility, Bajaj Auto, and TVS Motor Company.

The category saw over 70,600 units in October, the highest ever monthly number. Put together, Mahindra, Bajaj and TVS accounted for nearly one-third of overall sales.

Mahindra posted the highest ever number with 11,863 units sold, up 59% YoY, capturing around 17% share. Bajaj stood at 8,032 units, up 61% YoY and holding around 11% share. TVS, at 2,862 units, achieved its highest ever monthly volume so far, taking around 4% share.

During the period from January to October 2025, the electric three-wheeler market sold about 625,000 units compared with nearly 568,000 units during the corresponding period last year, up about 10%.

The festive demand, expanding charging infrastructure, and wider acceptance of electric mobility supported the sales surge. More small businesses and fleet operators are switching from diesel and CNG models to electric versions for their lower running costs and ease of maintenance.

While over 600 manufacturers operate in the space, the top ten commanded almost half of all sales in October, demonstrating increased concentration among the established players.

Yet, there are still challenges in the supply of key EV components like rare-earth magnets that could impact production in the short term.

At the current pace, electric three-wheeler sales are likely to cross 750,000 units by the end of 2025, setting a new milestone for India's electric vehicle industry.

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