TL;DR
India's electric vehicle market saw over 2.5 million registrations in FY2026, reaching 8.5% penetration, with electric two-wheelers contributing significantly to this 24% year-on-year growth.
India's electric vehicle (EV) market experienced significant growth in the 2025-2026 financial year (FY2026), with total EV registrations exceeding 2.5 million units, marking a 24% year-on-year increase. This surge pushed EV penetration to approximately 8.5% of all vehicle registrations, up from 7.7% in FY2025, according to a recent report by JMK. While this indicates a steady upward trend in adoption, it still falls short of the government's ambitious 2030 target of 30% EV penetration.
A key driver of this growth has been the electric two-wheeler segment, which accounted for nearly 58% of all EV sales during FY2026. Improvements in charging infrastructure also played a crucial role, with public charging stations expanding to over 27,000 nationwide by March 2026, making electric vehicles, including SUVs, more viable for both urban and highway travel. Looking ahead, experts anticipate India's EV penetration to reach between 9.5% and 10% in FY2027, bolstered by ongoing government incentives, enhanced charging networks, increased local manufacturing, and the introduction of new EV models.
