Electric Truck & LCV Sales January 2026: Tata Motors Leads With 40.3% Share
Every electric goods vehicle registered in India in January 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 January went
India registered 1,693 electric goods vehicles in January 2026, +178.9% on January 2025 and +16.9% on December 2025.
Across the 1 completed month of 2026 to January, 1,693 electric goods vehicles have been registered, +178.9% on the same months of 2025.
Monthly electric goods vehicle registrations, 2024–2026
One line per calendar year. A month still filling is left off the line.
Electric Truck & LCV market share, January 2026
Tata Motors led the month with 682 registrations — 40.3% of the electric goods vehicle market — ahead of Euler Motors on 347 (20.5%), a gap of 335 units. Tata Motors also led December.
Euler Motors has gained the most share against January 2025, +17.86pp to 20.5%; Tata Motors has lost the most, −14.74pp to 40.3%.
The top three hold 75.8% of the segment; 24 manufacturers registered at least one electric goods vehicle.
Top 10 electric goods vehicle makers, January 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 | Jan 2026 | Share | MoM | YoY | Share vs Jan 2025 |
|---|---|---|---|---|---|---|
| 1 | Tata Motors | 682 | 40.3% | +27.7% | +104.2% | −14.74pp |
| 2 | Euler Motors | 347 | 20.5% | +20.1% | +2068.8% | +17.86pp |
| 3 | Mahindra Last Mile | 254 | 15.0% | +19.8% | +91.0% | −6.91pp |
| 4 | Switch Mobility | 93 | 5.5% | −37.6% | +116.3% | −1.59pp |
| 5 | VECV (Eicher) | 61 | 3.6% | −14.1% | — | +3.60pp |
| 6 | Tivolt Electric Vehicles | 57 | 3.4% | −26.0% | +850.0% | +2.38pp |
| 7 | Energy In Motion | 53 | 3.1% | — | — | +3.13pp |
| 8 | Sany Heavy Industry India | 42 | 2.5% | +4100.0% | — | +2.48pp |
| 9 | Jupiter Electric Mobility | 34 | 2.0% | +3300.0% | — | +2.01pp |
| 10 | Ipl Tech Electric | 18 | 1.1% | −43.8% | +0.0% | −1.90pp |
| 11 | Olectra Greentech | 9 | 0.5% | −30.8% | — | +0.53pp |
| 12 | Kinetic Motor Company | 8 | 0.5% | +100.0% | — | +0.47pp |
| 13 | Pinnacle Mobility Solutions | 5 | 0.3% | −66.7% | — | +0.30pp |
| 14 | Propel Industries | 5 | 0.3% | −50.0% | — | +0.30pp |
| 15 | Mahindra | 4 | 0.2% | −33.3% | −42.9% | −0.92pp |
| All others (9 makers) | 21 | 1.2% |
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 January
The same table over 2026 to January, set against the same months of 2025.
| # | Manufacturer | Units | Share | vs 2025 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Tata Motors | 682 | 40.28% | −14.74pp | +104.2% |
| 2 | Euler Motors | 347 | 20.50% | +17.86pp | +2068.8% |
| 3 | Mahindra Last Mile | 254 | 15.00% | −6.91pp | +91.0% |
| 4 | Switch Mobility | 93 | 5.49% | −1.59pp | +116.3% |
| 5 | VECV (Eicher) | 61 | 3.60% | +3.60pp | — |
| 6 | Tivolt Electric Vehicles | 57 | 3.37% | +2.38pp | +850.0% |
| 7 | Energy In Motion | 53 | 3.13% | +3.13pp | — |
| 8 | Sany Heavy Industry India | 42 | 2.48% | +2.48pp | — |
| 9 | Jupiter Electric Mobility | 34 | 2.01% | +2.01pp | — |
| 10 | Ipl Tech Electric | 18 | 1.06% | −1.90pp | +0.0% |
| 11 | Olectra Greentech | 9 | 0.53% | +0.53pp | — |
| 12 | Kinetic Motor Company | 8 | 0.47% | +0.47pp | — |
| 13 | Pinnacle Mobility Solutions | 5 | 0.30% | +0.30pp | — |
| 14 | Propel Industries | 5 | 0.30% | +0.30pp | — |
| 15 | Mahindra | 4 | 0.24% | −0.92pp | −42.9% |
Frequently asked questions
How many electric goods vehicles were sold in India in January 2026?
Which company sold the most electric goods vehicles in January 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 daily 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.
