India's Electric Passenger Vehicle Market Nearly Doubles in FY2026

India's electric passenger vehicle (EPV) segment delivered its strongest performance yet in Financial Year 2026, with total retail registrations rising 83.63% year-on-year to 1,99,923 units, up from 1,08,873 units in FY2025, according to data released by the Federation of Automobile Dealers Associations (FADA). The segment's share of the overall passenger vehicle market expanded significantly, climbing from 2.6% in FY2024 to 4.2% in FY2025, with FY2026 data suggesting continued momentum.

The retail data was collated in collaboration with the Ministry of Road Transport and Highways (MoRTH), Government of India, covering 1,463 out of 1,466 RTOs as of April 2, 2026.

Tata Motors Passenger Vehicles retained its leadership position, retailing 78,811 units in FY2026, a growth of 35.90% over 57,994 units in FY2025. However, its dominance is being challenged more credibly than ever before.

JSW MG Motor India secured second place with 53,089 units, growing a strong 73.67% year-on-year from 30,569 units, consolidating its position as a serious contender in the electric PV space.

Mahindra & Mahindra was the standout performer of the year, posting a staggering 407.01% growth to reach 42,721 units, up from just 8,426 units in FY2025. The sharp jump reflects the strong market reception of its new-generation electric SUV lineup and places the homegrown automaker firmly in third position.

Hyundai Motor India more than doubled its electric retails, growing 137.59% to 5,885 units, while BYD India posted 54.01% growth to 5,361 units. Kia India was among the fastest-growing brands in percentage terms, surging 794.26% to 3,738 units from a low base of just 418 units in FY2025. BMW India also posted strong growth of 123.86%, reaching 3,537 units.

Three manufacturers — VinFast Auto India, Maruti Suzuki India, and Tesla India Motors and Energy — recorded sales in FY2026 with no comparable FY2025 figures, indicating their entry into the retail market during the current financial year. Tesla's 342 units represent its first full-year retail footprint in India, a significant milestone for the segment. Maruti's 1,416 units signal the mass-market giant's long-awaited entry into electric passenger vehicles.

On the other end, Stellantis Automobiles India saw a sharp decline of 71.39%, dropping to 576 units from 2,013 units in FY2025. Mercedes-Benz and Volvo Auto India also recorded modest declines of 9.51% and 5.21% respectively, reflecting the competitive pressure at the premium end of the market.

The overall picture points to a rapidly democratising electric PV market, with Indian manufacturers scaling aggressively while new global entrants add competitive depth. With the segment approaching the 2 lakh unit milestone in a single fiscal year, the electric passenger vehicle transition in India appears to be moving from early adoption to mainstream growth.

FADA noted that Telangana (TS) figures are excluded from the current dataset and may marginally revise final numbers once included.