The Indian E3W industry is witnessing the fastest transition to electric mobility. Out of the total 1.22 million three-wheelers sold across all segments in 2024, the E3W segment with a sales figure of 691,011 units, accounted for 56% of the segment sales, meaning that every second three-wheeler sold in the year 2024 was an electric three-wheeler.
The year 2024 has been quite remarkable for electric vehicles.
The electric three-wheeler market in India continued its upward trajectory witnessing a remarkable growth in 2024, with an annual figure of over 6,91,000 units, reflecting an 18% year-over-year growth, solidifying the country’s status as the market leader in this segment.
This segment witnessed a rise in demand and supply as they offered a combination of sustainability, advanced features, and cost-effective solutions.
This growth is driven by various factors such as low operating and maintenance costs, improved charging infrastructure, government incentives, subsidies, and the rising demand for sustainable last-mile transportation.
Mahindra Last Mile Mobility continued to dominate the market in 2024 as well and maintained market leadership followed by YC Electric, Bajaj Auto, and other companies. As the segment continues to grow, companies like Piaggio Vehicles, Mini Metro, Energy Electric Vehicles, Hotage India, etc are anticipated to play an important role in shaping the future of electric last-mile mobility in India.
In this article, we shall explore the top 10 Electric Three Wheeler companies in India, that are driving and shaping the future of sustainable mobility.
| E3W Manufacturer | 2024 Total Sales | Market Share (%) |
| Mahindra Last Mile Mobility | 68,000 | 24.01 |
| YC Electric | 43,977 | 15.53 |
| Bajaj Auto | 41,879 | 14.79 |
| Saera Electric Auto | 28,204 | 9.96 |
| Dilli Electric Auto | 25,029 | 8.84 |
| Piaggio Vehicles | 21,762 | 7.68 |
| Mini Metro | 14,755 | 5.21 |
| Energy Electric Vehicles | 13,389 | 4.73 |
| Unique International | 13,706 | 4.84 |
| Hotage India | 12,489 | 4.41 |
Mahindra Last Mile Mobility has been the longstanding electric 3W market leader, and it continues to maintain its position at the top this year as well.
It reported an increase in retail sales this year, with sales figures rising to 68,000 units in 2024 compared to 54,594 units in the previous year. This increase resulted in a YoY growth rate of 37% and a commanding market share of 24.01%.
The company’s EV portfolio serves various Indian transport and last-mile needs and includes the following:
Treo, Treo Plus, Treo Zor, Treo Yaari, Zor Grand, e-Alfa Super, and e-Alfa Cargo. Read more here India’s Top 10 Longest Range Electric Rickshaws in India 2025.
YC Electric continues to maintain its second position in the leaderboard, recording an annual sales figure of 43,977 units in 2024 with a significant market share of 15.53%.
YC Electric is a well-known electric three-wheeler brand and is listed among the top 3 E3W companies in India as well. Its EV portfolio includes the following:
Yatri Super, Yatri Deluxe, Yatri for passenger transportation, the E-Loader, and Yatri Cart for cargo.
Bajaj Auto has made great strides and worked its way up the leaderboard this year, securing the third position in 2024. Despite entering the E3W market back in mid-2023, Bajaj Auto has already established itself in the segment.
The company sold 41,879 electric three-wheelers in FY 2024, a substantial increase from the 4,573 units sold in FY 2023. Its YoY growth currently stands at 816%, with a great market share of 14.79%.
Bajaj Auto offers a great range of electric three-wheelers under its RE lineup, designed for passenger transportation and the Maxima lineup designed for cargo transport.
It’s current EV lineup includes the RE E-Tec 9.0, Maxima XL Cargo E-Tec 9.0, and the Maxima XL Cargo E-Tec 12.0.
Saera Electric Auto continued to maintain the fourth spot in the leaderboard with a sales figure of 28,204 units in 2024.
Saera Electric Auto recorded year-on-year growth of -4% and holds a notable market share of 9.96%.
The company produces electric rickshaws and carts under the brand Mayuri, offering a range of passenger as well as cargo transport. It’s portfolio includes the following
Passenger Electric Rickshaws:
Dilli Electric Auto, securing the fifth position, holds an important position in the Indian E3W segment. In terms of market presence, the company reported an annual sales figure of 25,029 units in 2024, reflecting an overall market shareholding of 8.84%
Dilli Electric Auto operates under the brand name CityLife, offering a range of electric rickshaws designed for both passenger and cargo transport. It’s EV portfolio includes the following:
Butterfly 2022, LI Prima 2022, Butterfly, Butterfly Deluxe, Butterfly Super Deluxe, Standard, Standard+.
Piaggio sold 21,762 electric three-wheelers in FY 2024 and secured the sixth position in the market leaderboard.
The company reported a slight increase in retail sales this year, with sales figures rising to 21,762 units in 2024 compared to 21,080 units in the previous year. This increase resulted in a YoY growth rate of 3% and a notable market share of 7.68%.
Piaggio offers a range of electric three-wheelers under its Apé Electrik lineup, designed for both passenger and cargo transport. Its current EV lineup includes the Apé E-City FX Max (Passenger) and the Apé E-Xtra FX Max (Cargo)
Mini Metro is amongst of the emerging players in India’s E3W market, offering a range of electric cargo and electric rickshaws designed for sustainable urban mobility.
Mini Metro sold 14,755 electric three-wheelers in the year 2024, reflecting a market share holding of 5.21%
#8 Unique International
Unique International showed notable growth in a rapidly expanding Indian E3W market, contributing to the segment’s overall sales of over 6,91,000 units in 2024.
The company reported an annual sales figure of 13,706 units, with a market shareholding of 4.84% in the year 2024.
Energy Electric Vehicles demonstrated significant growth in a rapidly growing Indian E3W market, contributing to the segment’s overall sales of over 6,91,000 units in FY 2024.
The company reported an annual sales figure of 13,389 units, with a market shareholding of 4.73% in the year 2024.
Hotage India witnessed considerable growth in the quickly growing Indian E3W market, contributing to the segment’s overall sales of over 6,91,000 units in 2024.
The company reported an annual sales figure of 12,489 units, with a market shareholding of 4.41% in the year 2024.
In conclusion, 2024 has been a great year for electric vehicles and this article covers the top 10 electric three-wheeler companies of the year.
The electric three-wheeler market has been even more competitive this year, with several companies offering innovative models that combine style, performance, and efficiency.
Based on the sales of EVs in 2024, the numbers are expected to skyrocket and are anticipated to contribute significantly to the growth of electric mobility in 2025 in India.
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