E-Rickshaw Sales May 2024: 45,005 Units, YC Electric Tops a Fragmented Market
Every e-rickshaw registered in India in May 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 May went
India registered 45,005 e-rickshaws in May 2024, +13.5% on May 2023 and +25.0% on April.
Across the 5 completed months of 2024 to May, 2,08,679 e-rickshaws have been registered, +16.4% 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, May 2024
YC Electric led the month with 3,777 registrations — 8.4% of the e-rickshaw market — ahead of Saera Electric on 2,467 (5.5%), a gap of 1,310 units. YC Electric also led April.
Mahindra Last Mile has gained the most share against May 2023, +2.13pp to 2.1%; Champion Poly Plast has lost the most, −0.88pp to 2.2%.
The top three hold 18.3% of the segment; 394 manufacturers registered at least one e-rickshaw.
Top 10 e-rickshaw makers, May 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 | May 2024 | Share | MoM | YoY | Share vs May 2023 |
|---|---|---|---|---|---|---|
| 1 | YC Electric | 3,777 | 8.4% | +28.6% | +17.0% | +0.25pp |
| 2 | Saera Electric | 2,467 | 5.5% | +25.9% | +20.4% | +0.32pp |
| 3 | Dilli Electric | 2,009 | 4.5% | +28.6% | +4.2% | −0.40pp |
| 4 | Unique International Ev | 1,320 | 2.9% | +38.2% | +17.9% | +0.11pp |
| 5 | Mini Metro EV | 1,302 | 2.9% | +37.3% | +9.7% | −0.10pp |
| 6 | Energy Electric Vehicles | 1,068 | 2.4% | +12.1% | +36.7% | +0.40pp |
| 7 | Hotage India | 993 | 2.2% | +12.5% | +0.3% | −0.29pp |
| 8 | Champion Poly Plast | 978 | 2.2% | +27.3% | −19.2% | −0.88pp |
| 9 | Mahindra Last Mile | 959 | 2.1% | +33.9% | — | +2.13pp |
| 10 | Sks Trade India | 954 | 2.1% | +31.8% | +29.1% | +0.26pp |
| 11 | J. S. Auto | 902 | 2.0% | +24.8% | +8.9% | −0.08pp |
| 12 | Allfine Industries | 841 | 1.9% | +9.6% | +1.3% | −0.22pp |
| 13 | Thukral Electric Bikes | 829 | 1.8% | +28.5% | +55.5% | +0.50pp |
| 14 | Khalsae-Vehicles | 819 | 1.8% | +33.0% | +40.7% | +0.35pp |
| 15 | Sahnianand E Vehicles | 795 | 1.8% | +37.3% | +96.8% | +0.75pp |
| All others (379 makers) | 24,992 | 55.5% |
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 May
The same table over 2024 to May, set against the same months of 2023.
| # | Manufacturer | Units | Share | vs 2023 | Volume YoY |
|---|---|---|---|---|---|
| 1 | YC Electric | 16,719 | 8.01% | +0.11pp | +18.0% |
| 2 | Saera Electric | 11,034 | 5.29% | −0.12pp | +13.7% |
| 3 | Dilli Electric | 9,222 | 4.42% | −0.27pp | +9.7% |
| 4 | Mini Metro EV | 5,606 | 2.69% | −0.44pp | −0.1% |
| 5 | Unique International Ev | 5,486 | 2.63% | −0.05pp | +14.0% |
| 6 | Hotage India | 5,058 | 2.42% | +0.25pp | +29.7% |
| 7 | Energy Electric Vehicles | 4,998 | 2.40% | +0.43pp | +42.1% |
| 8 | Mahindra Last Mile | 4,714 | 2.26% | +2.26pp | — |
| 9 | Champion Poly Plast | 4,523 | 2.17% | −1.10pp | −22.9% |
| 10 | J. S. Auto | 4,296 | 2.06% | −0.13pp | +9.6% |
| 11 | Sks Trade India | 4,209 | 2.02% | +0.21pp | +29.7% |
| 12 | Allfine Industries | 4,185 | 2.01% | −0.04pp | +14.1% |
| 13 | Thukral Electric Bikes | 3,695 | 1.77% | +0.29pp | +39.0% |
| 14 | Khalsae-Vehicles | 3,659 | 1.75% | +0.35pp | +44.9% |
| 15 | Terra Motors India | 3,496 | 1.68% | +0.08pp | +22.2% |
Frequently asked questions
How many e-rickshaws were sold in India in May 2024?
Which company sold the most e-rickshaws in May 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.
