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FY26: When India’s EV Market Found Scale

India's electric vehicle market crossed 2.45 million units in FY26, with every major segment posting record sales and consumer adoption moving beyond early experimentation.

By Prerna Lidhoo

08 Apr 2026

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FY26: When India’s EV Market Found Scale

If there was a year that suggested India’s electric vehicle transition was no longer experimental, it was FY26, as demand scaled, supply matured, costs started bending, and perhaps most importantly, consumer intent turned into actual purchases at a pace the industry had only been projecting until now.

A deep dive into retail sales since FY18 shows that India has cumulatively sold 8.30 million EVs. What’s striking is that 7.28 million units, or 88% of all EVs sold in India, came in just the last four years. FY26 added another powerful layer to that curve. Total EV sales reached 2.45 ...

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