TL;DR
India's Electric Passenger Vehicle market grew by 102% in Q2 2026, driven by new models and favorable economics, with EVs projected to reach 7-8% of the total PV market by year-end.
India's Electric Passenger Vehicle (EPV) market experienced an impressive 102% year-on-year growth in the second quarter of 2026 (Q2 2026), significantly outpacing the broader passenger vehicle market's 26% growth. This acceleration is attributed to an expanded product portfolio, improved vehicle availability, and compelling total-cost-of-ownership economics.
CyberMedia Research (CMR) forecasts that EVs will constitute 7-8% of India's passenger vehicle market by the end of 2026. The surge is driven by new model launches from OEMs, which have widened consumer choice, and elevated petrol prices that have amplified the running-cost advantages of EVs, drawing many traditional internal combustion engine (ICE) buyers into the electric segment.
