Electric Truck & LCV Sales October 2024: Tata Motors Leads With 75.3% Share
Every electric goods vehicle registered in India in October 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 October went
India registered 494 electric goods vehicles in October 2024, +34.6% on October 2023 and +4.2% on September.
Across the 10 completed months of 2024 to October, 5,526 electric goods vehicles have been registered, +159.4% on the same months of 2023.
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, October 2024
Tata Motors led the month with 372 registrations — 75.3% of the electric goods vehicle market — ahead of Switch Mobility on 45 (9.1%), a gap of 327 units. Tata Motors also led September.
Switch Mobility has gained the most share against October 2023, +9.11pp to 9.1%; Tata Motors has lost the most, −11.62pp to 75.3%.
The top three hold 92.9% of the segment; 12 manufacturers registered at least one electric goods vehicle.
Top 10 electric goods vehicle makers, October 2024
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 | Oct 2024 | Share | MoM | YoY | Share vs Oct 2023 |
|---|---|---|---|---|---|---|
| 1 | Tata Motors | 372 | 75.3% | +30.5% | +16.6% | −11.62pp |
| 2 | Switch Mobility | 45 | 9.1% | −29.7% | — | +9.11pp |
| 3 | Mahindra Last Mile | 42 | 8.5% | +10.5% | +600.0% | +6.87pp |
| 4 | Ipl Tech Electric | 13 | 2.6% | +62.5% | +550.0% | +2.09pp |
| 5 | Pinnacle Mobility Solutions | 7 | 1.4% | +16.7% | +250.0% | +0.87pp |
| 6 | Kinetic Motor Company | 5 | 1.0% | +0.0% | — | +1.01pp |
| 7 | Others | 3 | 0.6% | +0.0% | — | +0.61pp |
| 8 | Ashok Leyland | 2 | 0.4% | +0.0% | — | +0.40pp |
| 9 | Omega Seiki | 2 | 0.4% | −96.4% | +0.0% | −0.14pp |
| 10 | Euler Motors | 1 | 0.2% | +0.0% | — | +0.20pp |
| 11 | Mlr Auto | 1 | 0.2% | — | — | +0.20pp |
| 12 | M/S Vishnu Clean Energy Vehicles Llp | 1 | 0.2% | +0.0% | — | +0.20pp |
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, 2024 to October
The same table over 2024 to October, set against the same months of 2023.
| # | Manufacturer | Units | Share | vs 2023 | Volume YoY |
|---|---|---|---|---|---|
| 1 | Tata Motors | 4,128 | 74.70% | +11.84pp | +208.3% |
| 2 | Mahindra Last Mile | 529 | 9.57% | +9.24pp | — |
| 3 | Switch Mobility | 229 | 4.14% | +4.14pp | — |
| 4 | Omega Seiki | 133 | 2.41% | −1.77pp | +49.4% |
| 5 | Byd India | 81 | 1.47% | −10.88pp | −69.2% |
| 6 | Evage Automotive | 75 | 1.36% | +0.04pp | +167.9% |
| 7 | Ipl Tech Electric | 75 | 1.36% | +0.23pp | +212.5% |
| 8 | VECV (Eicher) | 67 | 1.21% | +1.17pp | — |
| 9 | Pinnacle Mobility Solutions | 40 | 0.72% | −0.07pp | +135.3% |
| 10 | Kinetic Green | 30 | 0.54% | +0.50pp | — |
| 11 | Victory Electric Vehicles International | 20 | 0.36% | +0.36pp | — |
| 12 | Mahindra | 19 | 0.34% | −9.89pp | −91.3% |
| 13 | Olectra Greentech | 16 | 0.29% | −0.37pp | +14.3% |
| 14 | Mlr Auto | 15 | 0.27% | +0.27pp | — |
| 15 | Kinetic Motor Company | 12 | 0.22% | +0.22pp | — |
Frequently asked questions
How many electric goods vehicles were sold in India in October 2024?
Which company sold the most electric goods vehicles in October 2024?
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.
