The electric three-wheeler passenger segment continues to be one of the fastest-growing modes of transportation in India. November 2025 saw this momentum persist, driven by rising demand for clean mobility, higher fuel prices, and government incentives. Leading OEMs—Mahindra, Bajaj, and TVS—solidified their positions, highlighting shifting consumer preferences and intensifying competition in urban and last-mile passenger transport.
This comprehensive report analyzes brand performance, market trends, growth drivers, and future outlook for the electric three-wheeler passenger segment in November 2025.
Market Overview: Electric Three-Wheelers in November 2025
India’s adoption of electric vehicles (EVs) continued to accelerate in November 2025, especially in cities and suburbs where affordable transportation is essential. The high cost of petrol and diesel is pushing consumers toward electric options, supported by favorable state policies, subsidies, and tax incentives. Additionally, the growth of ride-sharing and gig economy jobs is fueling demand.
Electric rickshaws remain the backbone of last-mile connectivity, particularly in Tier-2 and Tier-3 cities where daily passenger mobility is crucial.
Market Leaders: Top OEMs in November 2025
Mahindra Electric
Mahindra Electric maintained its market leadership, expanding primarily through its robust Treo range. These vehicles are popular with fleet operators and self-employed drivers due to their durability, reliability, and long range.
Bajaj Auto
Bajaj Auto is rapidly gaining market share by focusing on quality, a strong dealer network, and powerful electric vehicle technology. The company’s brand trust and low maintenance costs also contribute to its fast-paced growth.
TVS Motor
TVS is establishing a strong presence by offering innovative, high-performance electric vehicles. Its expanding sales network and excellent customer service have boosted its popularity, especially in emerging markets.
Other notable players like Piaggio and Kinetic Green also made gains, but Mahindra, Bajaj, and TVS saw the most significant growth.
Growth Drivers: Why Are More People Buying Electric Rickshaws?
Several factors fueled the surge in electric three-wheeler sales in November 2025:
- Low Operating Costs: EV rickshaws cost 70–80% less to run compared to their ICE counterparts.
- High Daily Usage: Drivers covering 100–120 km per day prefer EVs to maximize earnings.
- Better Financing: Banks and NBFCs offer tailored EV loans at reduced interest rates.
- Improved Charging Infrastructure: Growing networks of charging and battery-swapping stations make EV usage more convenient.
- Government Incentives: Policies like FAME, scrappage schemes, and subsidized registration have made EVs more affordable.
Sales Trends and Market Segmentation
The electric three-wheeler segment recorded double-digit growth in November 2025, with variation across regions and models.
- Mahindra: Achieved the highest year-on-year growth, especially with the Treo and Treo Plus, thanks to long battery life, attractive resale value, flexible financing, and strong after-sales support.
- Bajaj: Narrowed the gap with Mahindra through an expanding product portfolio, efficient supply chains, higher-capacity batteries, and a strong presence in the business travel segment.
- TVS: Experienced significant growth in Tier-2 and Tier-3 cities, driven by customer satisfaction and an expanding service network.
Market Breakdown: Urban and Rural Demand
Major cities like Delhi, Lucknow, Patna, Jaipur, Bengaluru, and Hyderabad saw the highest sales due to their reliance on last-mile transportation. Adoption is also growing in semi-urban and rural areas, where:
- Charging is more affordable
- Awareness about EV cost savings is rising
- Battery performance is better in warmer climates
Technological Advancements in November 2025
- Lithium-Ion Batteries: Now the industry standard, offering faster charging, longer life, and greater reliability.
- Fleet Tracking and Telematics: Increasingly adopted for real-time vehicle monitoring, battery performance tracking, and driver behavior analysis.
- Improved Motors: Newer motors deliver higher power, better payload efficiency, and extended range.
Pricing and Affordability
Passenger electric three-wheelers in India are priced between ₹1.40 lakh and ₹3.50 lakh, depending on brand, battery, and range. Despite rising component costs, prices remained stable in November 2025.
Challenges in the Segment
Despite strong growth, several issues persist:
- Inadequate charging infrastructure in rural areas
- High upfront battery costs
- Quality concerns from unorganized EV manufacturers
- Shortage of skilled EV mechanics
Leading OEMs like Mahindra, Bajaj, and TVS are investing to address these challenges.
Future Outlook
The segment is expected to grow substantially by 2026, driven by:
- Rising fuel prices prompting more EV adoption
- Government targets for net-zero emissions and EV uptake
- Rapid expansion of charging infrastructure
- Electrification of ride-sharing and commercial fleets
- Ongoing improvements in battery technology
Electric three-wheelers are poised to dominate India’s last-mile transportation, offering affordability, sustainability, and convenience.
Conclusion
The November 2025 Electric Three-Wheeler Passenger Sales Report highlights India’s rapidly expanding EV market. Mahindra, Bajaj, and TVS led the segment with competitive pricing, advanced technology, and rising consumer trust. The outlook remains robust, with strong growth anticipated through 2026 and beyond, driven by economic, technological, and policy factors. The future of last-mile transport in India is electric—affordable, reliable, and eco-friendly
FAQs
Mahindra was the top seller, with Bajaj and TVS also leading the segment.
Lower operating costs, higher fuel prices, better financing options, and government incentives are key factors.
Yes, they are ideal for last-mile connectivity due to their long range and low maintenance needs.
Limited charging stations, high battery costs, and a shortage of trained mechanics in some areas.
Lithium-ion batteries, valued for their longer life and better performance.