Nearly one in every two three-wheelers registered in India in July was electric, with EVs accounting for 48.6 per cent of total retail registrations, according to VAHAN data. Overall three-wheeler registrations rose 26.4 per cent year-on-year to 86,580 units from 68,501 a year earlier, driven by an 84.3 per cent jump in electric registrations to 42,065 units, while conventional fuel-powered three-wheelers declined 2.6 per cent to 44,515 units.“The July retail data marks an important milestone for India’s three-wheeler industry. Nearly one in every two three-wheelers sold today is electric, reflecting the compelling economics of EVs for commercial operators. As charging infrastructure, financing and product reliability improve, electrification will deepen further across both passenger and cargo applications,” said Uday Narang, Chairman and Co-founder, Omega Seiki Mobility.Legacy leaders hold groundBajaj Auto retained its leadership in the overall three-wheeler market with 41,998 retail registrations, followed by Mahindra Last Mile Mobility at 13,455 units and Piaggio Vehicles at 9,134. TVS Motor ranked fourth with 6,752 registrations, while Atul Auto completed the top five.Mahindra, Bajaj battle for EV crownThe contest in electric three-wheelers continued to tighten. Mahindra Last Mile Mobility retained the top spot with 12,848 registrations, ahead of Bajaj Auto’s 11,974. Bajaj, however, grew faster, with electric registrations rising 55 per cent year-on-year compared with Mahindra’s 41.9 per cent, narrowing the gap between the two leaders to 874 registrations from 1,327 a year earlier.TVS Motor consolidated its position as the third-largest electric three-wheeler manufacturer with 4,123 registrations, up 82.5 per cent year-on-year. Piaggio remained the fourth-largest legacy player with 1,426 electric registrations, while specialist manufacturers continued to expand across both the L3 e-rickshaw and L5 electric auto segments.ICE still rules, but the gap narrowsIn conventional three-wheelers, Bajaj remained the clear leader with 30,024 registrations, well ahead of Piaggio (7,708) and TVS Motor (2,629). Mahindra’s ICE registrations stood at just 607 units, reflecting the company’s growing focus on electric mobility.A market at an inflection pointHemal Thakkar, Senior Director and Senior Practice Leader at Crisil Intelligence, had projected the overall market to approach the 90,000-unit mark in July. While retail registrations came in marginally lower at 86,580 units, the broad trends he identified played out largely as anticipated.Thakkar said electrification continued to be the principal driver of industry growth, supported by favourable operating economics, lower running costs and rising adoption across both passenger and cargo applications. Conventional fuel-powered three-wheelers remained broadly range-bound as the market steadily shifted towards electric mobility.He added that electric vehicles are expected to account for the majority of passenger three-wheeler retail sales, with penetration rising to 51-53 per cent, while cargo EV penetration is projected to exceed 32 per cent, reflecting wider adoption across commercial applications.Published on August 2, 2026