PARIS: 20th May 2025: The latest report by the International Energy Agency (IEA) for 2025 has said India has surpassed China as the leading market for electric three-wheeler sales for a second time in a row.
According to the report, India and China compete for global leadership in the electric three-wheeler market. For the second consecutive year, the IEA reported that while China sold approximately 320,000 electric three-wheelers, India sold 691,305 units in calendar year 2024.
India and China account for 90% of the world’s electric three-wheeler market, but their growth rates differ. China’s electric three-wheeler market, which was 320,000 units in 2023, has fallen by 6% in CY 24. In contrast, India’s electric three-wheeler market increased by 18% in 2024, compared to the previous year, when it sold nearly 583,000 units.
The Global EV Outlook is an annual publication that identifies and evaluates recent developments in electric mobility worldwide. It emphasises that the electrification of three-wheelers in China has remained at less than 15% over the last three years.
“In 2023, India surpassed China to become the world’s largest market for electric three-wheelers, and it maintained this position in 2024, with sales increasing by nearly 20% year on year to reach nearly 700,000 vehicles,” the report states.
According to the report, India continues to grow at a strong double-digit rate, driven by sustained demand for passenger transport and last-mile delivery services for e-commerce, food deliveries, and other applications.
Mahindra Last Mile Mobility (MLMM), Bajaj Auto, YC Electric Vehicles, Saera Electric Auto, Dilli Electric Auto, Piaggio Vehicles and TVS Motor Co will continue to see strong growth.
According to the report, in addition to India and China, Southeast Asia is expected to see sustained demand for electric three-wheelers as a primary mode of transportation.
