E-Rickshaw Sales February 2024: 40,973 Units, YC Electric Tops a Fragmented Market
Every e-rickshaw registered in India in February 2024, brand by brand: volumes, market share inside the segment, month-on-month and year-on-year change, and who gained or lost share.
How February went
India registered 40,973 e-rickshaws in February 2024, +23.9% on February 2023 and −7.4% on January.
Across the 2 completed months of 2024 to February, 85,231 e-rickshaws have been registered, +31.2% on the same months of 2023.
Monthly e-rickshaw registrations, 2023–2026
One line per calendar year. The dashed end of the current year is the month so far.
E-Rickshaw market share, February 2024
YC Electric led the month with 3,344 registrations — 8.2% of the e-rickshaw market — ahead of Saera Electric on 2,083 (5.1%), a gap of 1,261 units. YC Electric also led January.
Mahindra Last Mile has gained the most share against February 2023, +2.26pp to 2.3%; Champion Poly Plast has lost the most, −1.56pp to 2.2%.
The top three hold 17.8% of the segment; 370 manufacturers registered at least one e-rickshaw.
Top 10 e-rickshaw makers, February 2024
E-rickshaw registrations only — every other vehicle type these companies make is excluded.
Share is of every e-rickshaw registered in the month. MoM and YoY compare each maker's own volume; the last column is its change in share of the segment.
| # | Manufacturer | Feb 2024 | Share | MoM | YoY | Share vs Feb 2023 |
|---|---|---|---|---|---|---|
| 1 | YC Electric | 3,344 | 8.2% | −0.3% | +27.6% | +0.24pp |
| 2 | Saera Electric | 2,083 | 5.1% | −11.4% | +13.0% | −0.49pp |
| 3 | Dilli Electric | 1,882 | 4.6% | −3.4% | +27.2% | +0.12pp |
| 4 | Mini Metro EV | 1,137 | 2.8% | +4.2% | +18.8% | −0.12pp |
| 5 | Unique International Ev | 1,025 | 2.5% | −8.0% | +24.2% | +0.01pp |
| 6 | Hotage India | 987 | 2.4% | −16.6% | +58.2% | +0.52pp |
| 7 | Mahindra Last Mile | 927 | 2.3% | −10.6% | — | +2.26pp |
| 8 | Energy Electric Vehicles | 918 | 2.2% | −12.1% | +32.3% | +0.14pp |
| 9 | J. S. Auto | 893 | 2.2% | +9.3% | +10.7% | −0.26pp |
| 10 | Champion Poly Plast | 891 | 2.2% | −8.6% | −27.8% | −1.56pp |
| 11 | Allfine Industries | 868 | 2.1% | −1.6% | +34.0% | +0.16pp |
| 12 | Terra Motors India | 831 | 2.0% | +29.4% | +35.6% | +0.18pp |
| 13 | Sks Trade India | 778 | 1.9% | −14.0% | +48.5% | +0.31pp |
| 14 | Khalsae-Vehicles | 680 | 1.7% | −15.7% | +67.1% | +0.43pp |
| 15 | Thukral Electric Bikes | 669 | 1.6% | −17.6% | +30.7% | +0.09pp |
| All others (355 makers) | 23,060 | 56.3% |
Exact: Vahan's maker x month table filtered to battery-electric fuels (PURE EV, ELECTRIC(BOV)) and the segment's vehicle classes — not a company total multiplied by anything.
Who is gaining
Monthly share of the e-rickshaw market for the six largest makers this month, over the last 15 completed months.
E-Rickshaw market share by month
Share of the segment each month, in per cent.
Market share, 2024 to February
The same table over 2024 to February, set against the same months of 2023.
| # | Manufacturer | Units | Share | vs 2023 | Volume YoY |
|---|---|---|---|---|---|
| 1 | YC Electric | 6,698 | 7.86% | +0.13pp | +33.4% |
| 2 | Saera Electric | 4,434 | 5.20% | −0.32pp | +23.5% |
| 3 | Dilli Electric | 3,831 | 4.49% | +0.03pp | +32.0% |
| 4 | Mini Metro EV | 2,228 | 2.61% | −0.66pp | +4.8% |
| 5 | Hotage India | 2,171 | 2.55% | +0.49pp | +62.1% |
| 6 | Unique International Ev | 2,139 | 2.51% | −0.06pp | +28.2% |
| 7 | Mahindra Last Mile | 1,964 | 2.30% | +2.30pp | — |
| 8 | Energy Electric Vehicles | 1,962 | 2.30% | +0.30pp | +51.0% |
| 9 | Champion Poly Plast | 1,866 | 2.19% | −1.46pp | −21.3% |
| 10 | Allfine Industries | 1,750 | 2.05% | +0.02pp | +32.7% |
| 11 | J. S. Auto | 1,710 | 2.01% | −0.31pp | +13.7% |
| 12 | Sks Trade India | 1,683 | 1.97% | +0.23pp | +48.3% |
| 13 | Khalsae-Vehicles | 1,487 | 1.74% | +0.59pp | +97.7% |
| 14 | Thukral Electric Bikes | 1,481 | 1.74% | +0.09pp | +38.4% |
| 15 | Terra Motors India | 1,473 | 1.73% | −0.07pp | +25.8% |
Frequently asked questions
How many e-rickshaws were sold in India in February 2024?
Which company sold the most e-rickshaws in February 2024?
What is the e-rickshaw market share of each brand?
How are these numbers measured?
E-Rickshaw sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
