New Launches and Product Updates
Download ImageMontra Electric SUPER CARGO: Montra Electric, the clean mobility brand from the Murugappa Group, launched its new electric three-wheeler, the ‘SUPER CARGO,’ in Delhi. This vehicle is specifically designed for the last-mile cargo delivery segment.
- Key Features: It boasts a 13.8 kWh lithium-ion battery, a claimed on-road range of 170 km, 70 Nm of torque, and a 1.2-tonne gross vehicle weight.
- Quick Charging: Some variants offer a 15-minute quick charging option, a significant advantage for commercial users.
Bajaj Auto’s Upcoming e-Rickshaw: Bajaj Auto, a major player in the three-wheeler market, is set to launch its own electric rickshaw under a new brand in early July 2025. The company has conducted extensive testing to ensure high quality and performance, aiming to revolutionize the fragmented e-rickshaw segment with a reliable and well-engineered product.
Here is a roundup of the top EV three-wheeler news in India for this month, with a focus on market trends, new products, and policy updates.
Market Performance and Growth
- Strong Sales Growth: The electric three-wheeler market in India is showing impressive growth. Retail sales saw a significant 20.62% year-on-year growth in May 2025, according to data from the Federation of Automobile Dealers Associations (FADA).
- Market Share: In May 2025, electric three-wheelers accounted for a dominant 63.2% market share, a rise from 62.7% in April and 55.7% in May 2024. This highlights the increasing preference for electric last-mile mobility.
- Top Players: Mahindra Group is leading the market, with Bajaj Auto rapidly closing the gap and securing the number two position. Other key players include YC Electric Vehicle and Saera Electric Auto. TVS Motor also showed a remarkable year-on-year growth.
Investments and Strategic Developments
- Hero MotoCorp’s Entry: Hero MotoCorp is making a major move into the electric three-wheeler market by investing ₹525 crore in Euler Motors. This strategic partnership signals a strong push from one of India’s largest two-wheeler manufacturers into the commercial EV space.
- Challenges for Startups: A recent report highlights that Reliance-backed EV three-wheeler manufacturer Altigreen has halted its manufacturing operations due to a funding crunch. This incident, along with the collapse of battery maker Log9, underscores the challenges faced by EV startups in the face of intense competition from legacy players like Bajaj and Mahindra.
Battery Technology and Infrastructure
- Growing Demand for Li-ion Batteries: Ipower Batteries reported a 50% growth in demand for their e-rickshaw batteries for FY 2025-26. The shift from lead-acid to lighter, more efficient lithium-ion batteries with longer ranges (100+ km) is a key trend.
- Battery Swapping: Battery swapping is gaining traction as a solution for e-rickshaws, with companies like Ipower Batteries supporting swapping operators with remote monitoring and reliable products. This model reduces downtime and makes EVs more viable for commercial use.
Regulatory and Policy News
- Transport Regulations: In a move to regulate the transport sector, transporters in Manipur have barred unauthorized e-rickshaws from certain roads and gates, emphasizing the need for proper permits. This highlights the ongoing effort to formalize the rapidly expanding EV three-wheeler sector.
- Government Schemes: Government initiatives like the FAME scheme and state-level incentives continue to play a crucial role in promoting the adoption of electric three-wheelers by reducing the upfront cost and offering subsidies
