India electric vehicle market sees rapid growth in CV and two-wheeler sectors

India is experiencing rapid growth in its electric vehicle (EV) sectors, specifically within commercial vehicles and two-wheelers. Between January and August 2026, electric commercial vehicle (CV) registrations reached 23,540 units, a 155% year-on-year increase. This growth is largely driven by electric light goods carriers, which saw a 202% increase in registrations. Tata Motors maintains the leading position in the CV market with a 33% share, while Euler Motors has risen to the second position.

Simultaneously, the electric two-wheeler market is seeing significant momentum, with total national registrations reaching a record 1.44 million units in 2026. Several challenger brands are outpacing their 2025 annual sales within the first nine months of the year. Greaves Electric Mobility, River Mobility, Bgauss Auto, and Simple Energy are all reporting record volumes. This expansion is supported by falling battery costs due to local production under the Production Linked Incentive (PLI) scheme and increased capital investment from various manufacturers to expand production capacity.