Indian electric vehicle market explodes in early 2026

Minh Anh |

The Indian electric vehicle market opened 2026 with strong growth when the total number of electric vehicle registrations in January reached about 210,000 units, marking the fourth consecutive month of exceeding the milestone of 200,000 vehicles/month.

This breakthrough took place even when the goods and services tax (GST) for internal combustion engine vehicles decreased, showing that electric vehicles are consolidating their position in the trend of sustainable consumption and transportation in the world's most populous economy.

Electric vehicles in India exceed 200,000 vehicles in January 2026

According to data from the Times of India, the total number of electric vehicles (EVs) registered in India in January 2026 reached about 2.18 lakh units (218,000 vehicles), compared to 1.71 lakh (171,000) in the same period of 2025 and 2.03 lakh in December 2025. This is the fourth consecutive month that EV sales have exceeded the threshold of 200,000 vehicles, despite the fact that internal combustion engine (ICE) car lines have been positively affected by GST reduction since October 2025.

This figure reflects steady growth in many electric vehicle segments - from two-wheeled vehicles to three-wheeled vehicles and electric cars - showing that the Indian EV market is entering a period of stronger maturity than before.

In the total number of EVs registered in January 2026, electric two-wheeled vehicles accounted for the largest number with about 1.22 lakh units. This is the highest figure in the past 12 months and is clear evidence of the "leading" role of the two-wheeled vehicle segment in India's EV ecosystem.

According to the Times of India, this increase is driven by a more stable production platform and improved supply of components such as magnets, helping manufacturers increase production capacity and supply electric vehicles to the market.

In this segment, traditional brands showed fierce competition. TVS Motor led with nearly 35,000 electric bicycles registered in the month, standing above rivals such as Bajaj Auto (more than 25,000 vehicles) and Ather (more than 22,000 vehicles). New brands such as Hero MotoCorp also recorded more than 13,000 vehicles registered in the same period, while Ola Electric's number of registrations was lower with about 7,600 vehicles in the month.

This data reflects the diversity of players in the electric bicycle market, from long-standing brands to specialized EV brands, and also shows the increasing demand of consumers for green, cost-saving and easy-to-operate vehicles.

Electric cars and electric three-wheeled vehicles - clear growth signal

Not only two-wheeled vehicles, other segments also recorded positive growth. In January 2026, electric cars (EV cars and EV SUVs) recorded about 18,100 units registered, up from about 15,685 in December 2025 and 11,895 vehicles in the same period last year.

Leading electric car brands in India this month include Tata Motors with about 7,900 vehicles, followed by JSW MG Motor with more than 4,600 vehicles and Mahindra with about 3,600 vehicles. Meanwhile, the VinFast brand, a new electric car manufacturer entering the market, leads the group of manufacturers with sales of less than 1,000 vehicles with about 432 units registered in January - a fairly impressive level for a newcomer in the field.

Besides electric cars, electric three-wheeled vehicles (including e-rickshaw) continue to be a strong growing segment, with about 75,764 vehicles registered in January 2026, compared to 59,930 vehicles in the same period last year. This shows that electric three-wheeled vehicles are still a popular choice in both urban and suburban areas for short transportation and delivery services.

EV market prospects

Four consecutive months with EV sales exceeding 200,000 vehicles/month mark an important turning point for the Indian electric vehicle market. It is noteworthy that this growth is taking place in the context of GST tax on internal combustion vehicles decreasing from October 2025, making ICE cars cheaper and more competitive in the national market - a factor that could hinder the trend of shifting to electric vehicles.

However, data shows that demand for electric vehicles is still increasing steadily, reflecting a change in consumption preferences, as buyers gradually switch to choosing sustainable vehicles with low operating costs and suitable for increasingly crowded urban conditions.

The growth in both the two-wheel, three-wheel and four-wheel segments shows that the EV market in India is not only focused on a single product group but is developing towards diversification, creating a solid foundation for sustainable long-term growth.

Looking ahead, with increasing acceptance from consumers and strong interest from domestic and foreign manufacturers, India may soon become one of the largest electric vehicle markets in the world in the next few years - making an important contribution to the roadmap for green transportation development and carbon emission reduction in the rapidly developing economy.

Minh Anh
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