Delhi’s new EV Policy 2.0, aimed at making 95 percent of new vehicle registrations electric by 2027, will have a positive impact on the electric three-wheeler segment. The policy focuses on replacing CNG auto rickshaws and light commercial vehicles with electric alternatives.
With purchase incentives for electric three-wheelers and a push for sustainable public transport, the EV market is expected to grow significantly. This shift to electric mobility will drive increased demand for EV three-wheelers, benefiting companies in the sector. Based on this, EV stocks are likely to benefit from the policy’s ambitious goals and incentives.
Here are a few 3-wheeler EV makers that benefit from Delhi’s new EV Policy 2.0, targeting 95% EV Adoption by 2027
Atul Auto Limited
With a market capitalization of Rs. 1,160 crore, the shares of Atul Auto Limited were currently trading at Rs. 418 per equity share, down nearly around 0.90 percent from its previous day’s close price of Rs. 421.80.
Atul Auto sold 748 L5 Pax vehicles in February 2025, with 57 EVs (7.6 percent of total sales). For L5 goods vehicles, the company sold 1,112 units, with 66 EVs, accounting for 5.9 percent of its goods sales. While Atul Auto has a strong presence in the market, its focus on electric vehicles remains limited
Atul Auto Limited was established in 1986 and headquartered in Rajkot, India. The company manufactures three-wheeler vehicles like passenger autos, cargo loaders, and e-rickshaws. It offers diesel, petrol, CNG, LPG, and electric models under brands like Atul RIK and Atul Elite. The company exports to over 21 countries.
Bajaj Auto Limited
With a market capitalization of Rs. 2,08,046.92 crore, the shares of Bajaj Auto Limited were currently trading at Rs. 7,450 per equity share, down nearly around 0.80 percent from its previous day’s close price of Rs. 7,510.10.
In February 2025, Bajaj Auto sold 29,823 L5 Pax vehicles, with 4,156 EVs, accounting for 13.9 percent of total sales. For L5 goods vehicles, Bajaj sold 4,821 units, with 430 EVs, making up 8.9 percent of its total goods sales. Bajaj continues to dominate both passenger and goods segments, with a growing focus on EVs.
Bajaj Auto Limited was founded in 1945 and is headquartered in Pune, India. The company is a leading global manufacturer of motorcycles, scooters, and three-wheelers.It is the world’s largest three-wheeler producer and a major exporter to over 70 countries.
Tube Investments of India Limited
With a market capitalization of Rs. 56,406.37 crore, the shares of Tube Investments of India Limited were currently trading at Rs. 2,915.15 per equity share, down nearly around 0.06 percent from its previous day’s close price of Rs. 2,916.90.
TI Clean Mobility reported 532 L5 Pax vehicles sold, all of which were electric, achieving a 100 percent EV share. The company is fully focused on electric vehicles in both segments.
Tube Investments of India Limited (TII), part of the Murugappa Group, is engaged in manufacturing precision steel tubes, car doorframes, industrial chains, and bicycles. The company is headquartered in Chennai and serves automotive, industrial, and consumer markets.
Mahindra and Mahindra Limited
With a market capitalization of Rs. 3,26,364.14 crore, the shares of Mahindra and Mahindra Limited were currently trading at Rs. 2,624.50 per equity share, down nearly around 0.92 percent from its previous day’s close price of Rs. 2,648.80.
Mahindra sold 5,009 L5 Pax vehicles, with 4,732 EVs (94.5 percent of total sales). For L5 goods, Mahindra sold 939 units, with 589 EVs, making up 62.7 percent of its total sales. Mahindra is significantly leading the EV charge in both passenger and goods 3W segments.
Mahindra & Mahindra Limited was founded in 1945 and is a flagship company of the Mahindra Group. It is engaged in automotive, farm equipment, aerospace, IT services, and clean energy. It operates globally across more than 100 countries and is the world’s largest tractor manufacturer by volume.
TVS Motor Company Limited
With a market capitalization of Rs. 1,07,688 crore, the shares of TVS Motor Company Limited were currently trading at Rs. 2,266.70 per equity share, up nearly around 0.37 percent from its previous day’s close price of Rs. 2,258.40.
TVS Motor recorded 2,400 L5 Pax vehicle sales, with 309 EVs (12.9 percent of total sales). For L5 Goods, TVS sold 1,112 units, with 66 EVs, contributing 5.9 percent of its total goods sales. TVS has a notable presence in both electric and traditional vehicle markets.
TVS Motor Company Limited is a leading global manufacturer of two- and three-wheelers, operating in over 80 countries. It offers innovative, sustainable mobility solutions, including electric vehicles, with advanced manufacturing facilities in India and Indonesia.
Written By – Nikhil Naik
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
