Electric Three-Wheeler Sales May 2024: Mahindra Last Mile Leads With 34.7% Share
Every electric three-wheeler 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 10,040 electric three-wheelers in May 2024, +95.0% on May 2023 and +59.9% on April.
Across the 5 completed months of 2024 to May, 54,242 electric three-wheelers have been registered, +165.1% on the same months of 2023.
Monthly electric three-wheeler registrations, 2023–2026
One line per calendar year. The dashed end of the current year is the month so far.
Electric Three-Wheeler market share, May 2024
Mahindra Last Mile led the month with 3,488 registrations — 34.7% of the electric three-wheeler market — ahead of Bajaj Auto on 2,577 (25.7%), a gap of 911 units. Mahindra Last Mile also led April.
Mahindra Last Mile has gained the most share against May 2023, +34.74pp to 34.7%; Piaggio has lost the most, −17.68pp to 13.8%.
The top three hold 74.3% of the segment; 79 manufacturers registered at least one electric three-wheeler.
Top 10 electric three-wheeler makers, May 2024
Electric three-wheeler registrations only — every other vehicle type these companies make is excluded.
Share is of every electric three-wheeler 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 | Mahindra Last Mile | 3,488 | 34.7% | +52.4% | — | +34.74pp |
| 2 | Bajaj Auto | 2,577 | 25.7% | +101.3% | — | +25.67pp |
| 3 | Piaggio | 1,390 | 13.8% | +90.7% | −14.4% | −17.68pp |
| 4 | Atul Auto | 513 | 5.1% | +212.8% | +194.8% | +1.73pp |
| 5 | Ti Clean Mobility | 326 | 3.2% | +68.9% | — | +2.86pp |
| 6 | Omega Seiki | 317 | 3.2% | +3.6% | +70.4% | −0.45pp |
| 7 | Euler Motors | 254 | 2.5% | +35.8% | +68.2% | −0.40pp |
| 8 | Keto Motors | 249 | 2.5% | +18.0% | — | +2.46pp |
| 9 | Dilli Electric | 197 | 2.0% | +294.0% | +33.1% | −0.91pp |
| 10 | Ravi Metal Works | 158 | 1.6% | +177.2% | — | +1.57pp |
| 11 | Mahindra | 55 | 0.5% | +17.0% | −96.8% | −32.68pp |
| 12 | Zenmo | 33 | 0.3% | — | — | +0.33pp |
| 13 | Godawari Electric Motors | 27 | 0.3% | −12.9% | +575.0% | +0.19pp |
| 14 | Others | 27 | 0.3% | +200.0% | −70.3% | −1.50pp |
| 15 | M/S Vishnu Clean Energy Vehicles Llp | 26 | 0.3% | — | — | +0.26pp |
| All others (64 makers) | 403 | 4.0% |
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 electric three-wheeler market for the six largest makers this month, over the last 15 completed months.
Electric Three-Wheeler 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 | Mahindra Last Mile | 18,997 | 35.02% | +35.02pp | — |
| 2 | Bajaj Auto | 10,195 | 18.80% | +18.80pp | — |
| 3 | Piaggio | 9,664 | 17.82% | −12.91pp | +53.7% |
| 4 | Omega Seiki | 3,763 | 6.94% | −0.54pp | +146.1% |
| 5 | Ti Clean Mobility | 2,086 | 3.85% | +3.68pp | — |
| 6 | Euler Motors | 1,755 | 3.24% | −0.41pp | +135.6% |
| 7 | Atul Auto | 1,056 | 1.95% | −1.49pp | +50.0% |
| 8 | Altigreen Propulsion Labs | 824 | 1.52% | −2.62pp | −2.7% |
| 9 | Dilli Electric | 781 | 1.44% | −1.09pp | +50.8% |
| 10 | Mahindra | 780 | 1.44% | −21.32pp | −83.2% |
| 11 | Keto Motors | 664 | 1.22% | +0.53pp | +367.6% |
| 12 | Ravi Metal Works | 273 | 0.50% | +0.50pp | — |
| 13 | Others | 271 | 0.50% | −1.93pp | −45.5% |
| 14 | E Royce Motors India | 235 | 0.43% | −0.97pp | −18.1% |
| 15 | Kinetic Green | 214 | 0.39% | +0.11pp | +269.0% |
Frequently asked questions
How many electric three-wheelers were sold in India in May 2024?
Which company sold the most electric three-wheelers in May 2024?
What is the electric three-wheeler market share of each brand?
How are these numbers measured?
Electric Three-Wheeler 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.
