India’s EV Boom Is Being Driven by Two-Wheelers

A record 1.4 million electric scooters and motorcycles were registered in India in fiscal year 2026, according to Vahan data. This marks a 22-percent increase from the year before, when around 1.2 million electric two-wheelers (e2Ws) were registered. Electric two-wheelers have become increasingly popular in the country, accounting for nearly six in ten electric vehicle registrations in FY2026.

TVS Motor Company led the e2Ws segment with 341,513 units, followed by Bajaj Auto with 289,349 units in second place and Ather Energy with 2,39,178 units in third in FY2026. Meanwhile, the electric three-wheeler category also saw growth, at 19 percent.

A strong month in March was partly driven by the extension of the PM E-Drive Scheme for e-2Ws, which will now offer a reduced subsidy until July 31, 2026. Analysts state that the high fuel prices in the wake of the blockade of the Strait of Hormuz, have also had an impact.

Electric vehicles still make up just a fraction of total vehicles registered in India, with e2Ws seeing a penetration rate of 6.5 percent in FY2025-26.