CHENNAI: This calendar year has proven to be impressive for battery-powered electric vehicles in the country. For the first time, total EV registrations across all segments have surpassed the 2 million unit milestone – and the year is still not over, with more than a month to go. The increase highlights increasing consumer interest, better product availability and continued policy support for electric vehicle adoption. As of Tuesday, EV registrations (excluding hybrids) for this calendar year stood at 2.02 million units, up from 1.95 million units in 2024.Despite changes in EV policy, demand has remained strong, driven by falling battery costs, a gradually expanding charging network and new models with longer range.As electric vehicle (EV) sales gain momentum, growth is mainly driven by electric two-wheelers. According to data from Vahan, the electric two-wheeler segment remains the main driver of total EV registrations, accounting for 57% of total volumes during this calendar year.“We expect growth in the mid-teens by 2025, softer than last year’s 27% increase but still healthy, supported by robust two-wheeler demand, steady electrification of the three-wheeler fleet and a competitive four-wheeler launch pipeline, indicating a sustainable growth cycle,” said Poonam Upadhyay, director, Crisil Ratings.It’s clear that magnet shortages are manageable for now, with lower battery costs and increasing localization helping to soften the impact. The launch of models with longer range and faster charging also supports demand.Total electric two-wheeler sales have grown to 1.2 million units this year, slightly higher than the full-year figure of 1.15 million in 2024. “Established OEMs have driven electric two-wheeler growth this year, leveraging extensive dealer networks, competitive pricing and higher range models to expand customer base and boost retail confidence despite policy changes,” Upadhyay added.Among all categories, the electric passenger car segment (which also includes electric cars and SUVs) recorded 57% growth with 156,455 units year-to-date, compared to 99,429 units in 2024.Electric cars and SUVs are growing in popularity, thanks to a wider range of mid-range models and improved total cost of ownership. “While charging infrastructure remains a consideration for long-distance travel, it is no longer a major concern for urban buyers who can rely on charging at home and in the workplace. Expanding networks and greater range alleviate previous infrastructure concerns,” she said.Electric three-wheeler sales stood at 6.9 lakh units this year, up from 6.91 lakh units in 2024.
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