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  • Dominance of EV will increase in India, share of electric vehicles may reach 12% next year.

    Dominance of EV will increase in India, share of electric vehicles may reach 12% next year.

    Updated On:
    Jul 29, 2026 | 06:05 AM IST

    Summary

    Electric Vehicles India: The popularity of electric vehicles is continuously increasing and this pace may increase further in the coming years. A new report has come from rating agency India Ratings and Research.

    Electric Vehicles (Source. magnific)

    Expansion

    Indian Electric Vehicles Market In 2027: The popularity of electric vehicles is continuously increasing in India and this pace may increase further in the coming years. According to the new report of rating agency India Ratings and Research (Ind-Ra), the share of electric vehicles in the country’s total vehicle sales can reach 10% to 12% in the financial year 2027. But for now, this figure was 8.5% in FY 2026. The report believes that the biggest contribution to this growth will be from electric two-wheelers.

    Electric scooters and bikes will become engines of growth

    According to Ind-Ra information, the share of electric two-wheelers may increase from 6.6% to 8% to 10% in FY27. The biggest reasons for this are low running cost compared to petrol vehicles, easy charging at home and new models being launched continuously in the market. Apart from this, people’s increasing trust in electric vehicles will also accelerate this change. At the same time, improvements in battery technology and charging facilities in the last few years have strengthened the confidence of customers, due to which the demand for electric scooters and bikes is expected to increase rapidly.

    Sales of electric cars will also pick up pace

    The report also states that the market for electric cars will also expand rapidly. While the share of EV cars was 4.4% in FY26, it is expected to reach 6% to 8% in FY27. The main reason for this is the launch of new electric models by auto companies in different budgets. In the coming months, many major vehicle manufacturers are preparing to introduce new electric cars from affordable to premium segments, due to which customers will have more options than before.

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    Also read: 260KM range, 114kmph speed, Avore Electric EX launched, book for Rs 799, know price and features

    Long range EVs still face challenges

    However, the report also shows that the pace of adoption of long distance electric vehicles is currently seen to be slow. This is due to their relatively high starting price, limited availability of charging infrastructure across the country and concerns about battery range during long journeys. Despite this, experts believe that as the charging network expands and new battery technology comes into the market, the impact of these challenges will reduce. If current trends continue, India’s EV market could be among the fastest growing markets in the world in the next few years.

  • India’s eCV retail market picks up pace in April 2026 despite monthly slowdown.

    India’s eCV retail market picks up pace in April 2026 despite monthly slowdown.

    India’s electric commercial vehicle (eCV) retail market witnessed strong year-on-year growth in April 2026, although sales volumes declined slightly compared to the previous month, according to the latest retail data released by the Federation of Automobile Dealers Associations (FADA).

    Total ECV retail sales reached 2,245 units in April 2026, a sharp growth of 148.9 percent from 902 units sold during the same month last year. However, sales fell 8.7 percent sequentially from 2,459 units recorded in March 2026.

    Despite monthly declines in volumes, electric commercial vehicles have retained more than 2 percent share in the overall commercial vehicle market. The segment’s share in total CV retail sales in April 2026 was 2.26 per cent, slightly lower than the 2.40 per cent market share recorded in March 2026, but significantly higher than the 1.04 per cent share seen in April 2025.

    The retail data was compiled from 1,463 out of 1,466 RTOs till May 3, 2026, excluding Telangana.

    Tata Motors maintains leadership position

    Tata Motors continues to be the leading player in the electric commercial vehicle segment with retail sales of 799 units in April 2026. The company recorded a strong year-on-year growth of 201.5 percent as compared to 265 units sold in April 2025. However, on a month-on-month basis, sales declined by 7.52 percent to 864 units in March 2026.

    This performance helped Tata Motors retain the largest share in the ECV retail market during the month.

    Euler Motors records strongest growth

    Euler Motors emerged as one of the standout performers in April 2026. The company retailed 518 electric commercial vehicles, up significantly from just 38 units in April 2025, translating into a massive growth of 1,263.2 percent year-on-year.

    Unlike many other OEMs, Euler Motors also recorded sequential growth, with April sales rising 10.45 percent from 469 units sold in March 2026.

    Mahindra reports steady expansion

    Mahindra Group secured the third position in the market with retail sales of 285 units during April 2026. This represents an increase of 69.6 percent compared to 168 units sold a year ago. Sequentially, sales in March 2026 grew 6.34 percent to 268 units.

    The reported volume was entirely contributed by Mahindra Last Mile Mobility Ltd.

    Switch Mobility and JBM Auto declined monthly

    Switch Mobility Automotive retailed 144 units in April 2026, showing a strong annual growth of 311.4 percent compared to April 2025. However, the company experienced a massive decline of 44.19 percent compared to 258 units sold in March 2026.

    JBM Auto also saw a big month-on-month decline. The company retailed 54 units in April 2026, down 72.45 percent from 196 units in March. Despite the decline, volumes remained 35 percent above April 2025 levels.

    PMI Electro Mobility sees low volumes

    PMI Electro Mobility Solutions recorded retail sales of 111 units in April 2026, down 41 per cent from 188 units sold during the same period last year. Sequentially, volumes also declined by 9.76 per cent from 123 units sold in March 2026.

    VE Commercial Vehicles reported a comparatively steady sales performance, retailing 38 units during the month. This was slightly lower than the 39 units sold in April 2025, marking a 2.6 per cent year-on-year decline, while monthly volumes improved by 11.76 per cent from March.

    Emerging OEMs continue to expand

    Several emerging players continue to strengthen their presence in the electric commercial vehicle market.

    TiVolt electric vehicles retailed at 83 units in April 2026 compared to 9 units in April 2025, registering a year-on-year growth of 822.2 percent.

    Pinnacle Mobility Solutions sold 54 units during the month, showing an increase of 440 per cent compared to April 2025 and an increase of 42.11 per cent compared to March 2026.

    Energy in Motion reported retail sales of 34 units in April, up from 21 units in March, while Aeroeagle Automobiles reported 28 units, up from 22 units in the previous month. Year-on-year comparisons were not available for the two companies due to the lack of data for April 2025.

    ECV market share remains above 2 percent

    Although retail sales softened sequentially during April, the electric commercial vehicle segment maintained market penetration levels above 2 percent.

    The strong year-on-year growth highlights ongoing electrification in last-mile delivery, passenger transportation and municipal mobility applications, even as monthly demand trends across manufacturers and operating segments continue to fluctuate.

  • Tesla is bringing 6-seater cool SUV, will run 750KM on one charge.

    Tesla is bringing 6-seater cool SUV, will run 750KM on one charge.


    Tesla Model YL India: Tesla is now preparing to launch its new and bigger SUV in the Indian market. According to reports, the company may soon introduce its 6-seater electric SUV Tesla Model YL.

    Updated On:
    Apr 18, 2026 | 11:35 am

    Tesla (Source. Tesla)

    Tesla SUV Launch India: Electric car manufacturing giant Tesla is now preparing to launch its new and bigger SUV in the Indian market. According to reports, the company may soon introduce its 6-seater electric SUV Tesla Model YL. This will be a longer version of the existing Model Y, which will offer more space and three rows of seating.

    Special design for family

    The new SUV has been specially designed keeping in mind those customers who want a large and comfortable family car. It will have a seating layout of 2+2+2, which means 6 people will be able to travel comfortably. Captain seats will be provided in the second row, which will be heated and ventilated. The third row will also have the feature of heated seats, due to which the rear passengers will also get a premium experience.

    Sales of the first model were weak

    In India, Tesla is already selling the standard version of Tesla Model Y, which was launched in 2025. However, the company’s sales were not as expected. Only 227 units could be sold in the entire year, whereas the target was 2,500 units. Due to low demand, the company had to give a discount of up to ₹ 2 lakh.

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    Will be imported from China

    The new Tesla Model YL is currently being manufactured at the Shanghai plant in China and from there it will be imported to India. Due to high import duty, its price may remain high, which may affect sales. Nevertheless, the company hopes that the new variant will attract customers.

    Strong range and tremendous speed

    Talking about the features, this SUV will be provided with an 82 kWh battery, which can give a range of up to 751 kilometers on a single charge. It will have dual motor and all-wheel drive system, due to which this car can accelerate from 0 to 100 km/h in just 4.5 seconds. Its top speed is said to be around 201 km/hour.

    Also read: If caste is written on the vehicle, the consequences will be heavy, challan of Rs 5,000 and even jail.

    Tough competition from BYD

    Tesla is facing tough competition in the global market. Especially the Chinese company BYD has moved ahead in terms of sales. In such a situation, Tesla is trying to strengthen its hold through new models and updates.

    Competition will increase in SUV segment

    If Tesla Model YL is launched in India, it will be Tesla’s second major offering. Especially in the large family SUV segment, the competition will become even more interesting.

  • Zelio e-Mobility appoints Divyanshu Agarwal as CEO to expand nationwide.

    Zelio e-Mobility appoints Divyanshu Agarwal as CEO to expand nationwide.

    Zelio e-Mobility has announced the appointment of Divyanshu Agarwal as its Chief Executive Officer, effective April 15, 2026. The appointment is a strategic move by the fast-growing electric two-wheeler and three-wheeler maker as it strengthens leadership to support its nationwide expansion plans.

    Divyanshu Aggarwal, a 26-year-old chartered accountant, has taken up the role following a resolution passed by the company’s board of directors based on the recommendation of the nomination and remuneration committee. His appointment comes at a time when Zelio e-Mobility is experiencing rapid growth, with the company doubling its performance year on year.

    Before joining Zelio, Agarwal was with Navi Limited, founded by Sachin Bansal, where he worked since November 2021. During his tenure, he advanced from Finance Associate to Head of UPI Business and Growth in July 2025, leading efforts to scale operations, build strategic partnerships and enhance execution capabilities.

    He also contributed to key organizational initiatives, including the DRHP process, private equity fundraising, and cross-functional projects involving finance, product, HR, and legal functions. Additionally, he worked closely with Founder and Chairman Sachin Bansal on strategic initiatives across the organization.

    At Zelio e-Mobility, Agarwal will focus on strengthening operational execution and overseeing the development and scaling of new manufacturing facilities, including plants in Odisha and Coimbatore. His responsibilities will also include expanding market presence, enhancing distribution networks, strengthening partnerships, improving product-market fit and aligning growth with long-term business fundamentals.

    Agarwal started his professional journey at Price Waterhouse Chartered Accountants in Kolkata, where he handled statutory audits of large listed companies. He holds a B.Com (Hons.) degree from St. Xavier’s College Kolkata and is a qualified Chartered Accountant.

    With this appointment, Zelio e-Mobility aims to accelerate its growth strategy, expand manufacturing capacity and strengthen its position in India’s rapidly growing electric mobility market.

  • Ather Energy allotted ESOPs worth ₹22.4 crore to employees under 2025 plan.

    Ather Energy allotted ESOPs worth ₹22.4 crore to employees under 2025 plan.

    Electric two-wheeler maker Ather Energy has allotted 2.97 lakh equity shares to its employees under the Employee Stock Ownership Plan (ESOP) 2025 following the exercise of stock options, the company said in a regulatory filing.

    Based on Ather Energy’s BSE closing price of ₹753 per share on Monday, the total value of the ESOP allotment is ₹22.4 crore. Indian stock markets remained closed on Tuesday due to public holiday.

    “The shares have been allotted to eligible ESOP holders who have exercised their stock options under the Ather Energy ESOP 2025 Plan,” the company said in its filing.

    Ather Energy strengthens employee ownership

    The Bengaluru-based electric vehicle maker, which made its stock market debut in May last year, continues to expand employee ownership as part of its long-term growth strategy. The ESOP allocation reflects the company’s focus on retaining talent and aligning employee incentives with business performance.

    This is not the first such step of the company. In September 2025, Ather Energy had granted 12.7 lakh ESOPs worth ₹70.9 crore to employees, senior management and key personnel.

    Increasing competition in EV two-wheeler segment

    Ather Energy operates in India’s fast-growing electric two-wheeler market, competing with new-age EV makers like Ola Electric as well as established players like TVS Motor Company and Bajaj Auto. As companies are expanding their product portfolio and producing on a larger scale, competition in this segment has intensified.

    Strong revenue growth in Q3FY26

    Company reports strong financial performance in Q3FY26 due to festive demand and increase in vehicle sales:

    Operating Revenue: ₹953.6 Crore Year-on-Year Growth: 50.2% Highest quarterly revenue for the company

    Despite strong revenue growth, Ather Energy reported a net loss of ₹84.6 crore for the quarter. However, losses narrowed substantially, falling by 57.2% year-on-year, indicating improvement in operating efficiency.

    With growing EV adoption, expanding charging infrastructure and growing product demand, Ather Energy is strengthening its position in India’s electric two-wheeler market by incentivizing employees through equity participation.

  • CARS24 collaborates with Tesla to ease the transition to electric vehicles in India.

    CARS24 collaborates with Tesla to ease the transition to electric vehicles in India.

    As electric mobility gains momentum in India, CARS24 has announced a collaboration with Tesla India to launch an integrated trade-in program to make the transition from petrol or diesel vehicles to electric vehicles simpler, faster and more seamless.

    Traditionally, customers wanting to switch to electric vehicles have had to manage two separate processes – selling their existing vehicle and buying a new one. This new program combines both phases into a single, streamlined experience, reducing friction and simplifying the overall transition to electric mobility for customers.

    Available for a limited period, this program offers an exchange bonus of ₹3 lakh from Tesla on petrol and diesel vehicles, along with an additional ₹25,000 exchange bonus from Cars24 on successful completion of a Tesla purchase, taking the total benefit on switching from an ICE car to an EV to ₹3.25 lakh.

    The journey begins at Tesla Experience Centers, where customers searching for a Tesla Model Y can begin the exchange process as part of their purchase journey.

    Customers can initiate the exchange journey by entering their vehicle details on the Cars24 website, app or Tesla Centre; They can get a preliminary price estimate and schedule a doorstep inspection at their convenience.

    Following inspection, Cars24 provides a transparent price quote directly to the customer, with no obligation to proceed. Customers have complete flexibility to accept or reject the offer.

    If the customer wishes to proceed, Cars24 manages the entire process from start to end, including vehicle pickup, payment directly into the customer’s bank account and ownership transfer, ensuring a completely hassle-free experience without paperwork or logistical challenges.

    To further support customers in making the switch, Tesla is also offering financing options starting with a down payment of ₹6 lakh and EMIs from ₹49,000 per month, making the Tesla Model Y more accessible to a wider group of buyers. Model Y also supports convenient home charging, making everyday use simple and efficient.

    In addition to the environmental benefits, electric vehicles offer significantly lower running and maintenance costs than conventional cars, making the switch both practical and affordable for customers.

    As part of the program, customers who complete their Tesla purchase are eligible for an additional ₹25,000 Cars24 Bonus, which is deposited directly into their bank account upon delivery of their new Tesla.

    Cars24 brings nationwide reach to its digital-first platform and partnerships, enabling seamless price discovery, instant payments and hassle-free ownership transfer for customers across India.

    Gajendra Jangid, Co-Founder and CMO, CARS24, said, “At Cars24, our focus has always been on simplifying car transactions. Partnering with Tesla allows us to extend that convenience to customers transitioning to electric vehicles, managing everything from price discovery to payments and ownership transfer.”

  • Odyssey Electric reports 137% growth with sales of 1,350 units in March 2026

    Odyssey Electric reports 137% growth with sales of 1,350 units in March 2026

    Odissi Electric Vehicles, one of India’s fastest growing premium electric two-wheeler manufacturers, has reported its highest monthly sales performance in March 2026 recording 1,350 units. The strong performance highlights the company’s rapid growth and growing demand for its electric mobility solutions.

    The sales figure for March 2026 shows a significant increase from 1,127 units sold in February 2026, representing an increase of almost 20 percent month-on-month. On a year-on-year basis, the company achieved an impressive growth of 137 percent compared to March 2025, when Odyssey Electric had recorded sales of 569 units.

    The growth momentum has been supported by the company’s continued expansion across India. Odyssey Electric has strengthened its market presence by expanding its distribution network to over 150 cities and covering over 500 pin codes in 17 states, improving accessibility for customers and supporting widespread EV adoption.

    Highlights – March 2026

    Total Sales: 1,350 units Month-on-Month Growth: ~20% growth as compared to February 2026 Year-on-Year Growth: ~137% growth as compared to March 2025 Market Expansion: Presence in 150+ cities and 500+ pin codes across 17 states

    The strong sales performance reflects the growing consumer confidence in electric two-wheelers and strengthens Odyssey Electric’s position as an emerging player in India’s rapidly growing EV market.

    Commenting on the performance, Mr. Nemin Vora, Chief Executive Officer, Odyssey Electric, said, “The strong growth momentum in March is a testament to our continued efforts to expand our market presence and provide reliable, high-performance electric mobility solutions. Amid global fuel mobility and rising environmental awareness, closing this period on a strong note further strengthens our confidence in the adoption of electric mobility. As demand continues to accelerate, we focus on strengthening our network, enhancing customer experience and introducing innovative products tailored to Focusing on Indian consumers.

    Odyssey Electric Vehicles offers a diverse and evolving portfolio of electric two-wheelers for both urban commuters and performance-oriented riders. The company’s lineup includes a wide range of electric scooters like Hi-Fi, Racer Neo, Sun, Trot 2.0, Snap and Hawk Lee, spanning across low-speed and high-speed segments designed for daily commuting, last-mile connectivity and fleet applications.

    Additionally, Odysse has expanded into the premium category with electric motorcycles like EVOQIS and VADER, targeting customers looking for high performance and long range. With options across different price points, battery configurations and use cases including IoT-enabled features and battery-swapping technology, the company is addressing both B2C and B2B mobility needs in urban and semi-urban markets.

    Odyssey Electric has entered into a strategic partnership with Indofast Energy, a joint venture between Indian Oil Corporation and Sun Mobility, to integrate advanced battery-swapping technology across its product lineup, starting with the SNAP and Hy-Fy electric scooters. This collaboration enables a Battery-as-a-Service (BaaS) model, which significantly reduces upfront vehicle costs while eliminating range anxiety and long charging times for users.

  • TVS Motor launches Orbiter V1 e-scooter under BaaS scheme at ₹49,999.

    TVS Motor launches Orbiter V1 e-scooter under BaaS scheme at ₹49,999.

    TVS Motor Company introduced the Orbiter V1 electric scooter under a new Battery-as-a-Service (BaaS) model on March 12, 2026, with a starting price of ₹49,999 (ex-showroom Delhi, including PM e-Drive subsidy). Without opting for BaaS, the scooter is priced at ₹84,500 under the same subsidy conditions. The launch was announced in Lucknow and also informed to both the Bombay Stock Exchange and the National Stock Exchange of India.

    The BaaS model marks a shift in how the company is structuring EV ownership. Instead of paying the full cost of the vehicle upfront, buyers can subscribe to battery usage through a monthly plan. Subscription pricing starts at ₹862 per month and includes an extended warranty of five years or up to 70,000 km with unlimited monthly usage during the subscription period. TVS has made the BaaS option available across its electric scooter portfolio, which also includes the TVS iQube.

    The Orbiter V1 is equipped with a 1.8 kWh battery that offers a certified IDC range of 86 km per charge. Charging from zero to 80% takes about two hours and 20 minutes, setting it up as a practical option for everyday urban commutes. This model joins the existing Orbiter V2 variant, which has a larger 3.1 kWh battery and was introduced last year. With the V1, TVS now offers two Orbiter variants targeting different price points and range requirements.

    In terms of design, the scooter features an 845 mm flat-form seat that aims to provide comfort for both the rider and the pillion. The 290 mm straight-line footboard provides extra legroom, while the upright handlebar is designed to reduce fatigue during long rides. Under-seat storage capacity is rated at 34 litres, which is enough to hold two helmets. TVS describes the design as modern and functional, giving priority to practicality while maintaining visual appeal.

    The Orbiter V1 is equipped with several technology features, including a color LCD instrument cluster that displays incoming calls along with standard ride data. Connectivity through a companion mobile application allows users to remotely track battery charge levels and odometer readings. Security features include alerts for accidents, falls, theft, geo-fencing, and time-fencing. Additional functions such as hill hold assist, cruise control, parking assist and turn-by-turn navigation are also included. The scooter offers two riding modes – Eco and Power – both supported by regenerative braking to improve efficiency. Over-the-air software updates allow the vehicle to receive system fixes without requiring a service visit.

    According to Gaurav Gupta, President, India 2W Business, TVS Motor Company, this launch represents an important step towards making electric mobility more accessible. He said separating the vehicle price from battery usage costs helps customers better understand the long-term costs of EV ownership. Anirudh Haldar, senior vice president, commuter and EV business, said the feedback from customers using the Orbiter V2 played a role in the decision to introduce a more affordable version. He said models like BaaS can help accelerate EV adoption across a broader consumer base.

    TVS Motor Company operates in more than 80 countries and maintains manufacturing facilities in India and Indonesia. The company is the only two-wheeler manufacturer globally to receive the Deming Award for quality. Its broader group portfolio includes Norton Motorcycles in the United Kingdom and TVS eBike Company AG, which holds a significant position in the e-bike market in Switzerland.

    The launch comes at a time when India’s electric two-wheeler segment is expanding rapidly, supported by government incentives, rising fuel prices and growing demand for low-emission urban mobility. Competitors like Ola Electric, Ather Energy and Bajaj Auto’s Chetak are also expanding their product line-ups and adjusting prices, intensifying competition, especially in the sub-₹1 lakh segment. It appears that TVS is tailoring the Orbiter V1 and its BaaS model to address affordability – one of the major barriers to widespread EV adoption in the Indian market.

  • Cheap EV, more subsidy and new buses, speed of electric vehicles increased with PM e-drive.

    Cheap EV, more subsidy and new buses, speed of electric vehicles increased with PM e-drive.

    Affordable Evs Increased Subsidies And New Buses PM E Drive Initiative Accelerates The Adoption Of Electric Vehicles – Affordable EVs, more subsidies and new buses, PM E-Drive accelerates the adoption of electric vehicles.

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    Affordable Evs Increased Subsidies And New Buses Pm E Drive Initiative Accelerates The Adoption Of Electric Vehicles

  • Odyssey electric vehicles registered a growth of 133% year-on-year in December 2025.

    Odyssey electric vehicles registered a growth of 133% year-on-year in December 2025.

    Odyssey Electric Vehicles, one of India’s fastest growing premium electric vehicle manufacturers, recorded a strong growth of 133% year-on-year in December 2025 with sales reaching 990 units as compared to 425 units in December 2024. For the full year, the company sold over 5,255 units, reflecting the continued market demand for its electric two-wheeler portfolio.

    This strong performance underlines Odyssey Electric’s growing retail footprint, growing customer confidence and growing acceptance of its new generation smart electric scooters and motorcycles. With its distribution network now spanning over 300 pin codes across India, the brand continues to expand reach for customers seeking reliable and future-ready EV mobility solutions.

    Odyssey Electric’s recently launched models – Racer Neo, Snap, HiFi and the high-speed Odyssey Sun continue to be the major contributors to the sales growth. Designed to provide a balance of performance, convenience and smart features, these models have found strong acceptance among value-conscious, tech-savvy and eco-conscious riders. Positive customer feedback, repeat purchases, and word-of-mouth recommendations continue to support demand in key markets.

    With the year-end festive atmosphere, attractive retail offers, easy financing schemes and strong after-sales support, December sales got a further boost. The company also reported increased dealership interest, higher test-ride conversions and a steady increase in walk-ins across its pan-India network.

    Commenting on the performance, Nemin Vora, Founder and CEO, Odyssey Electric Vehicles, said, “Our December performance reflects the steady demand for Odyssey Electric’s product portfolio across all markets. Continued network expansion, improved customer engagement and strong focus on product reliability have supported this momentum. As we enter the new year, we are focused on strengthening our ecosystem and meaningfully contributing to India’s clean mobility transition.”

    Looking ahead, Odyssey Electric plans to further expand its dealer and service network, enhance customer experience and accelerate product innovation to meet the growing needs of mobility in India’s rapidly growing EV ecosystem.