In a 1st, EV registrations across segments cross 2 million in 2025

CHENNAI: This calendar year has turned out to be an impressive one for battery-powered electric vehicles in the country. For the first time, total EV registrations across all segments have crossed the milestone of 2 million units - and the year is still not over, with more than a month to go.

The surge highlights rising consumer interest, better product availability and continued policy support for EV adoption. As of Tuesday, for this calendar year, EV registrations (excluding hybrids) stood at 2.02 million units as against 1.95 million units in 2024.

Despite EV policy changes, demand has remained strong, driven by falling battery costs, a gradually expanding charging network, and new longer-range models.

As sales of electric vehicles (EV) gain momentum, the growth is mainly powered by electric two-wheelers. According to Vahan data, electric two-wheeler segment continues to be the major driver of total EV registrations, accounting for 57% of the total volumes during this calendar year.

"We expect mid-teen growth in 2025, softer than last year's 27% surge but still healthy, supported by firm two-wheeler demand, steady three-wheeler fleet electrification and a competitive four-wheeler launch pipeline, indicating a sustainable growth cycle," said Poonam Upadhyay, director, Crisil Ratings.

It is gathered that magnet shortages are manageable for now, with softer battery costs and rising localisation helping cushion the impact. The launch of higher-range, faster-charging models is also supporting demand.

Total electric two-wheeler sales have grown to 1.2 million units year-to-date, slightly higher than the full-year number of 1.15 million achieved in 2024. "Established OEMs have driven electric two-wheeler growth this year, leveraging extensive dealer networks, competitive pricing, and higher-range models to expand customer base and boost retail confidence despite policy changes," Upadhyay added.

Among all categories, the electric passenger vehicle segment which include electric cars and SUVs) recorded a growth of 57% at 156,455 units year-to-date, compared with 99,429 units in 2024.

Electric cars and SUVs are gaining traction, driven by a wider range of mid-range models and improved total cost of ownership. "While charging infrastructure remains a consideration for long-distance travel, it's no longer a major concern for urban buyers who can rely on home and workplace charging. Expanding networks and increasing ranges are easing earlier infrastructure concerns," she said.

Electric three-wheeler sales stood at 6.9 lakh units year-to-date as against 6.91 lakh units in 2024.

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