Electric Truck & LCV Sales March 2025: Tata Motors Leads With 43.9% Share
Every electric goods vehicle registered in India in March 2025, brand by brand: volumes, market share inside the segment, month-on-month and year-on-year change, and who gained or lost share.
How March went
India registered 704 electric goods vehicles in March 2025, −60.0% on March 2024 and +40.5% on February.
Across the 3 completed months of 2025 to March, 1,812 electric goods vehicles have been registered, −33.9% on the same months of 2024.
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, March 2025
Tata Motors led the month with 309 registrations — 43.9% of the electric goods vehicle market — ahead of Mahindra Last Mile on 172 (24.4%), a gap of 137 units. Tata Motors also led February.
Mahindra Last Mile has gained the most share against March 2024, +14.38pp to 24.4%; Tata Motors has lost the most, −40.89pp to 43.9%.
The top three hold 77.8% of the segment; 19 manufacturers registered at least one electric goods vehicle.
Top 10 electric goods vehicle makers, March 2025
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 | Mar 2025 | Share | MoM | YoY | Share vs Mar 2024 |
|---|---|---|---|---|---|---|
| 1 | Tata Motors | 309 | 43.9% | +19.3% | −79.3% | −40.89pp |
| 2 | Mahindra Last Mile | 172 | 24.4% | +47.0% | −2.8% | +14.38pp |
| 3 | Jaidka Power Systems | 67 | 9.5% | +116.1% | — | +9.52pp |
| 4 | Switch Mobility | 45 | 6.4% | +21.6% | +1400.0% | +6.22pp |
| 5 | Euler Motors | 31 | 4.4% | +82.4% | — | +4.40pp |
| 6 | Propel Industries | 23 | 3.3% | +283.3% | — | +3.27pp |
| 7 | Ipl Tech Electric | 12 | 1.7% | +300.0% | — | +1.70pp |
| 8 | Pinnacle Mobility Solutions | 10 | 1.4% | −23.1% | −23.1% | +0.68pp |
| 9 | Mahindra | 8 | 1.1% | +60.0% | +100.0% | +0.91pp |
| 10 | Kinetic Motor Company | 6 | 0.9% | — | — | +0.85pp |
| 11 | Qucev Technologies | 5 | 0.7% | — | — | +0.71pp |
| 12 | Others | 4 | 0.6% | — | — | +0.57pp |
| 13 | VECV (Eicher) | 4 | 0.6% | +0.0% | — | +0.57pp |
| 14 | Ashok Leyland | 2 | 0.3% | — | — | +0.28pp |
| 15 | Tivolt Electric Vehicles | 2 | 0.3% | −60.0% | — | +0.28pp |
| All others (4 makers) | 4 | 0.6% |
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, 2025 to March
The same table over 2025 to March, set against the same months of 2024.
| # | Manufacturer | Units | Share | vs 2024 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Tata Motors | 902 | 49.78% | −33.27pp | −60.4% |
| 2 | Mahindra Last Mile | 422 | 23.29% | +14.21pp | +69.5% |
| 3 | Switch Mobility | 125 | 6.90% | +6.68pp | +1983.3% |
| 4 | Jaidka Power Systems | 112 | 6.18% | +6.18pp | — |
| 5 | Euler Motors | 64 | 3.53% | +3.53pp | — |
| 6 | Ipl Tech Electric | 33 | 1.82% | +1.64pp | +560.0% |
| 7 | Propel Industries | 29 | 1.60% | +1.60pp | — |
| 8 | Evage Automotive | 26 | 1.43% | +0.34pp | −13.3% |
| 9 | Pinnacle Mobility Solutions | 23 | 1.27% | +0.76pp | +64.3% |
| 10 | Mahindra | 20 | 1.10% | +0.63pp | +53.8% |
| 11 | Tivolt Electric Vehicles | 13 | 0.72% | +0.72pp | — |
| 12 | Qucev Technologies | 8 | 0.44% | +0.44pp | — |
| 13 | VECV (Eicher) | 8 | 0.44% | +0.30pp | +100.0% |
| 14 | Kinetic Motor Company | 6 | 0.33% | +0.33pp | — |
| 15 | Others | 6 | 0.33% | +0.33pp | — |
Frequently asked questions
How many electric goods vehicles were sold in India in March 2025?
Which company sold the most electric goods vehicles in March 2025?
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.
