Electric Truck & LCV Sales February 2026: Tata Motors Leads With 42.0% Share
Every electric goods vehicle registered in India in February 2026, 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 1,503 electric goods vehicles in February 2026, +200.0% on February 2025 and −11.2% on January.
Across the 2 completed months of 2026 to February, 3,195 electric goods vehicles have been registered, +188.4% on the same months of 2025.
Monthly electric goods vehicle registrations, 2023–2026
One line per calendar year. The dashed end of the current year is the month so far.
Electric Truck & LCV market share, February 2026
Tata Motors led the month with 631 registrations — 42.0% of the electric goods vehicle market — ahead of Euler Motors on 300 (20.0%), a gap of 331 units. Tata Motors also led January.
Euler Motors has gained the most share against February 2025, +16.57pp to 20.0%; Tata Motors has lost the most, −9.71pp to 42.0%.
The top three hold 77.3% of the segment; 25 manufacturers registered at least one electric goods vehicle.
Top 10 electric goods vehicle makers, February 2026
Electric goods vehicle registrations only — every other vehicle type these companies make is excluded.
Share is of every electric goods vehicle 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 2026 | Share | MoM | YoY | Share vs Feb 2025 |
|---|---|---|---|---|---|---|
| 1 | Tata Motors | 631 | 42.0% | −7.3% | +143.6% | −9.71pp |
| 2 | Euler Motors | 300 | 20.0% | −13.5% | — | +16.57pp |
| 3 | Mahindra Last Mile | 231 | 15.4% | −9.1% | +97.4% | −7.98pp |
| 4 | Switch Mobility | 79 | 5.3% | −15.1% | +113.5% | −2.13pp |
| 5 | Tivolt Electric Vehicles | 68 | 4.5% | +19.3% | — | +3.53pp |
| 6 | VECV (Eicher) | 40 | 2.7% | −34.4% | +900.0% | +1.86pp |
| 7 | Blue Energy Motors | 30 | 2.0% | +900.0% | — | +2.00pp |
| 8 | Sany Heavy Industry India | 23 | 1.5% | −45.2% | — | +1.53pp |
| 9 | Ipl Tech Electric | 18 | 1.2% | +0.0% | +500.0% | +0.60pp |
| 10 | Energy In Motion | 16 | 1.1% | −69.8% | — | +1.06pp |
| 11 | Propel Industries | 15 | 1.0% | +200.0% | +150.0% | −0.20pp |
| 12 | Qucev Technologies | 14 | 0.9% | +366.7% | — | +0.93pp |
| 13 | Ashok Leyland | 10 | 0.7% | — | — | +0.67pp |
| 14 | Mahindra | 6 | 0.4% | +50.0% | +20.0% | −0.60pp |
| 15 | Others | 5 | 0.3% | — | — | +0.33pp |
| All others (10 makers) | 17 | 1.1% |
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 goods vehicle market for the six largest makers this month, over the last 15 completed months.
Electric Truck & LCV market share by month
Share of the segment each month, in per cent.
Market share, 2026 to February
The same table over 2026 to February, set against the same months of 2025.
| # | Manufacturer | Units | Share | vs 2025 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Tata Motors | 1,312 | 41.06% | −12.46pp | +121.2% |
| 2 | Euler Motors | 647 | 20.25% | +17.27pp | — |
| 3 | Mahindra Last Mile | 485 | 15.18% | −7.38pp | +94.0% |
| 4 | Switch Mobility | 172 | 5.38% | −1.84pp | +115.0% |
| 5 | Tivolt Electric Vehicles | 125 | 3.91% | +2.92pp | — |
| 6 | VECV (Eicher) | 101 | 3.16% | +2.80pp | — |
| 7 | Energy In Motion | 69 | 2.16% | +2.16pp | — |
| 8 | Sany Heavy Industry India | 65 | 2.03% | +2.03pp | — |
| 9 | Jupiter Electric Mobility | 38 | 1.19% | +1.19pp | — |
| 10 | Ipl Tech Electric | 36 | 1.13% | −0.77pp | +71.4% |
| 11 | Blue Energy Motors | 33 | 1.03% | +1.03pp | — |
| 12 | Propel Industries | 20 | 0.63% | +0.08pp | +233.3% |
| 13 | Qucev Technologies | 17 | 0.53% | +0.26pp | +466.7% |
| 14 | Olectra Greentech | 11 | 0.34% | +0.34pp | — |
| 15 | Ashok Leyland | 10 | 0.31% | +0.04pp | +233.3% |
Frequently asked questions
How many electric goods vehicles were sold in India in February 2026?
Which company sold the most electric goods vehicles in February 2026?
What is the electric goods vehicle market share of each brand?
How are these numbers measured?
Electric Truck & LCV 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.
