India’s electric vehicle (EV) market is growing rapidly, driven by government incentives, environmental concerns, and new technology. In FY24, passenger vehicles led the way, making up 57 percent of total EV sales. Electric two-wheelers (E2W) followed with 38 percent, while three-wheelers (E3W) accounted for 5 percent. This shows that EV adoption varies across different vehicle categories.
The market is expected to soar from US$ 3.21 billion in 2022 to US$ 113.99 billion by 2029, growing at an impressive rate of 66.52 percent per year. By 2033, annual sales could reach 10 million units. The government aims for 30 percent of private cars and 70 percent of commercial vehicles to be electric by 2030. With rising investment, India is on track to become the largest EV market by 2030, leading the way in sustainable transportation.
Here is the list of 2-Wheeler EV stock sales in March 2025
Bajaj Auto Limited
With a market capitalization of Rs. 2,22,530.61 crore, the shares of Bajaj Auto Limited closed at Rs. 7,968.65 per equity share, rising nearly 1.20 percent from its previous day’s close price of Rs. 7,874.40.
Bajaj Auto’s EV sales in March 2025 reached 34,863 units, a 93 percent YoY increase from 18,089 units in March 2024, reflecting strong annual growth. Month-over-month, sales surged by 62 percent from 21,537 units in February 2025, indicating robust demand and market expansion for their electric vehicles.
TVS Motor Company Limited
With a market capitalization of Rs. 1,16,301.33 crore, the shares of TVS Motor Company Limited closed at Rs. 2,448 per equity share, rising nearly 1.14 percent from its previous day’s close price of Rs. 2,420.45.
TVS Motor sold 30,453 EV units in March 2025, up 14 percent YoY from 26,645 units in March 2024, showing steady yearly growth. From February 2025’s 18,911 units, sales rose by 61 percent MoM, highlighting a significant monthly uptick and growing consumer interest in their EV offerings.
Ola Electric Mobility Limited
With a market capitalization of Rs. 23,267.13 crore, the shares of Ola Electric Mobility Limited closed at Rs. 52.75 per equity share, down nearly 0.42 percent from its previous day’s close price of Rs. 52.97.
Ola Electric’s EV sales dropped to 23,430 units in March 2025, a 56 percent YoY decline from 53,646 units in March 2024, indicating a sharp annual fall. However, MoM sales soared by 171 percent from 8,653 units in February 2025, suggesting a strong monthly recovery despite yearly challenges.
Hero MotoCorp Limited
With a market capitalization of Rs. 75,229.08 crore, the shares of Hero MotoCorp Limited closed at Rs. 3,761.25 per equity share, rising nearly 1.05 percent from its previous day’s close price of Rs. 3,722.10.
Hero MotoCorp holds a 40.39% stake in Ather Energy, reflecting its significant investment in the electric scooter manufacturer. Ather Energy recorded 15,446 EV units sold in March 2025, down 11 percent YoY from 17,429 units in March 2024, reflecting a slight annual dip. MoM, sales increased by 29 percent from 11,944 units in February 2025, showing moderate monthly growth amid competitive market dynamics.
Hero MotoCorp’s (Vida) EV sales in March 2025 were 7,977 units, a 95 percent YoY jump from 4,085 units in March 2024, indicating impressive yearly growth. MoM, sales rose by 196 percent from 2,692 units in February 2025, showcasing a significant monthly surge in demand.
Greaves Cotton Limited
With a market capitalization of Rs. 4,986.73 crore, the shares of Greaves Cotton Limited closed at Rs. 214.50 per equity share, rising nearly 0.09 percent from its previous day’s close price of Rs. 214.70.
Greaves Cotton Limited, through its Greaves Electric Mobility, sold 5,641 EV units in March 2025, up 87 percent YoY from 3,010 units in March 2024, reflecting strong annual growth. MoM, sales increased by 52 percent from 3,703 units in February 2025, demonstrating consistent monthly progress in their EV market share.
Written By – Nikhil Naik
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