On releasing EV retail data for Feb’26, Mr. C. S. Vigneshwar, President, FADA, said Mr. C. S. Vigneshwar, President, FADA, said
“EV retails in February’26 continued to grow on a year-on-year basis across categories, even as overall EV penetration remained largely range-bound due to much faster growth in ICE volumes. Electric 2W retails stood at 1,11,709 units (+45.60% YoY) with EV share at ~6.6%, while Electric PV retails came in at 13,733 units (+44.48% YoY) with share at ~3.5%. Electric 3W remained the most electrified segment at 66,398 units (+25.09% YoY) with share ~56.7%, and Electric CV—though on a small base—rose to 2,051 units (+156.4% YoY) with share improving to ~2.03%.
The month-on-month softness visible in a few EV categories is largely a reflection of the shorter month and high January base, and does not dilute the structural direction of India’s EV transition. Importantly, India’s EV story is being built on a stronger foundation—improving product choices, expanding charging ecosystem, better financing comfort and growing consumer confidence. As these building blocks deepen and scale, we expect the healthy YoY growth to translate into a more meaningful step-up in EV penetration over the medium term.”