Electric 3 Wheeler Companies

The electric 3 wheeler market is projected to grow from USD 2.68 billion in 2025 to USD 3.85 billion by 2032, registering a CAGR of 5.3%. The demand for electric 3-wheelers is increasing, driven by declining battery prices and expanding production capacities that improve cost competitiveness, allowing manufacturers to scale their operations and achieve better margins. Adoption is strengthening, particularly in last-mile logistics, where fleet operators benefit from lower running costs, simplified maintenance, and viable battery-swapping models. This transition is positioning electric 3-wheelers as a strategic asset in urban mobility ecosystems and logistics networks, reinforcing long-term industry shifts toward low-cost, sustainable transport solutions.

The electric 3 wheeler market is dominated by a few established players, including Mahindra & Mahindra Ltd. (India), YC Electric Vehicle (India), Saera Electric Auto Pvt. Ltd. (India), Piaggio Group (Italy), and Bajaj Auto Ltd. (India). These companies develop new products, adopt expansion strategies, secure supply contracts, and establish collaborations, partnerships, and agreements to gain traction in the global market.

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Mahindra & Mahindra Ltd. (M&M) is an Indian automotive company, one of the leading players in the electric 3 wheeler market in India. It operates through five segments: Automotive, Farm Equipment, Financial Services, Hospitality, and Others. The company provides electric mobility solutions under its electric mobility arm, Mahindra Electric. Under the Automotive segment, M&M manufactures electric 3-wheelers, including the Treo, Treo Plus, Treo Zor, Treo Yaari, Zor Grand, e-Alfa Super, and e-Alfa Cargo. The company provides electric 3-wheelers through its subsidiary Mahindra Last Mile Mobility. In August 2024, it launched the e-Alfa Plus, featuring a 150 Ah lead-acid battery, a power output of 1.95 kW at 2,600 rpm, and a maximum torque of 26.9 Nm at 200 rpm, with a range of over 100 kilometers on a single charge.

YC Electric Vehicle is a prominent Indian company engaged in the design, development, and manufacturing of electric 3-wheelers for passenger and cargo transport. Its electric 3-wheeler models include Yatri Deluxe, E-Loader, and Yatri Super. Apart from these, the company provides post-sales service and maintenance of its vehicles, with sales totaling 44,632 units. The company has also expanded its services to Nepal.

Saera Electric Auto Pvt. Ltd. is an Indian EV manufacturing company that designs, manufactures, and sells EVs. Currently, the company offers electric 2-wheelers, 3-wheelers, cars, and rickshaws for passenger and cargo transport. It is spread across India and is active in states such as Maharashtra, Odisha, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh through 700 dealerships. The company aims to have over 1,200 showrooms and an additional 500 dealerships. Saera Electric sold 28,229 units of electric 3-wheelers in 2023, marking a 4.4% year-on-year increase. The company now operates three manufacturing plants, situated in Bhiwadi (Rajasthan) with a production capacity of 24,000 units, and in Bawal (Haryana) with a total production capacity of 200,000 units of electric 2-wheelers and 36,000 units of electric 3-wheelers. As of December 2024, it has over 500 employees.

Related Reports:

Electric 3 Wheeler Market by End Use (Passenger Carriers, Load Carriers), Range (Less than 50 miles, above 50 miles), Battery Type (Lead Acid, Lithium-ion), Battery Capacity, Motor Type, Motor Power, Payload Capacity, and Region - Global Forecast to 2032

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