Electric Passenger Three-Wheeler (E-3W L5) Sales Grow in February 2026, Bajaj Auto Leads the Market

Key Highlights

• Bajaj Auto leads the E-3W passenger segment with strong YoY and MoM growth.

• Mahindra Last Mile Mobility records healthy annual growth and solid monthly improvement.

• TVS Motor maintains the third position despite a slight monthly decline.

• Piaggio Vehicles sees a YoY decline but registers small MoM growth.

• The segment continues to expand annually while showing mixed monthly trends.

India’s electric passenger three-wheeler (E-3W L5) segment continued to grow in February 2026 as demand for affordable electric last-mile mobility remained strong. According to the latest Vahan Dashboard data, Bajaj Auto, Mahindra Last Mile Mobility, and TVS Motor emerged as the top three OEMs in terms of registrations during the month.

The data is based on registrations from 1,459 out of 1,464 RTOs, covering 35 of 36 states and Union Territories. Telangana data is not included, and the figures are sourced from the Vahan Dashboard as of March 2, 2026.

Overall, the segment recorded strong year-on-year growth compared with February 2025, although some manufacturers saw mixed month-on-month performance compared with January 2026.

Also Read: Electric Passenger Three-Wheeler (E-3W L5) Sales Rise in January 2026, Bajaj Auto Leads the Market

Overall E-3W Passenger Market Trend - February 2026

India’s electric passenger three-wheeler segment is witnessing increasing adoption as operators shift toward electric mobility for cost-effective urban transportation. Strong year-on-year growth across several manufacturers indicates expanding EV acceptance in both urban and semi-urban regions.

However, month-on-month trends vary among manufacturers, suggesting short-term adjustments in demand following stronger sales in the previous months.

Electric Passenger Three-Wheeler (E-3W L5) Sales - February 2026

Brand-Wise Electric Passenger 3W Performance

Bajaj Auto

Market leader Bajaj Auto registered 8,100 electric passenger three-wheelers in February 2026. The company recorded 94.8% year-on-year growth and 3.1% month-on-month growth, maintaining its strong dominance in the segment.

Mahindra Last Mile Mobility

Mahindra Last Mile Mobility secured the second position with 6,784 registrations. The company posted 43.4% YoY growth and 7.6% MoM growth, reflecting steady expansion in the electric last-mile mobility market.

TVS Motor

TVS Motor held the third position with 2,376 registrations in February 2026. Although sales declined 7.3% month-on-month, the company maintained a stable presence in the passenger electric three-wheeler market.

Piaggio Vehicles

Piaggio Vehicles registered 888 units in February 2026. The brand reported a 15.4% YoY decline, but registrations increased 2.4% month-on-month, indicating a small recovery in sales.

Omega Seiki

Electric mobility company Omega Seiki recorded 531 registrations during the month. While it saw a 7.2% YoY decline, the company achieved 5.1% MoM growth, showing improved short-term demand.

TI Clean Mobility

TI Clean Mobility posted 468 registrations in February 2026. The company experienced a 12% YoY decline and a 17.9% MoM drop, reflecting weaker market demand during the month.

Market Outlook

The February 2026 data highlights the growing importance of electric passenger three-wheelers in India’s mobility ecosystem. Strong year-on-year gains among leading manufacturers demonstrate increasing EV adoption, particularly in last-mile transport and shared mobility services.

Although month-on-month performance varies across brands, the segment continues to benefit from rising awareness, lower operating costs, and supportive government policies. As more OEMs expand their electric three-wheeler portfolios, competition in the E-3W passenger market is expected to intensify.

Also Read: E-3W Goods L5 Sales Report (February 2026): Mahindra Last Mile Mobility Leads, Green Evolve Sees Strong Growth

CMV360 Says

India’s electric passenger three-wheeler market maintained strong momentum in February 2026. Bajaj Auto continued to dominate the segment, followed by Mahindra Last Mile Mobility and TVS Motor. While some manufacturers faced short-term monthly corrections, the overall market trend remains positive as EV adoption steadily increases across the country.