TVS Projects 60% EV Share in 3-Wheelers: Game On by 2030

By Jony Shekhawat | Published Date : August 26, 2025

TVS Motor projects that electric vehicles will make up 60% of India’s L5 three-wheeler market by 2030.

Electric vehicles in India are no longer limited to private cars or scooters. There’s a growing shift happening in the L5 3-wheeler category, the kind people use every day to move goods and passengers. More and more companies are starting to focus on this space, seeing it as a big part of where electric mobility is heading next.
One such company is TVS Motor, which has predicted that electric vehicles could make up 60% of the L5 3-wheeler market by 2030. Right now, EVs hold around a 23% share in this segment, so if the prediction holds, this would be a huge jump in just five years.

Why EVs Are Gaining Popularity in L5 Vehicles

Table Of Contents

1. Why EVs Are Gaining Popularity in L5 Vehicles

2. What’s Happening on the Ground

3. Still Some Challenges Ahead

4. Looking at the Road Ahead

5. Conclusion

There are a few strong reasons behind this growth.

First, running costs for electric vehicles are much lower than petrol or diesel. Drivers who use their vehicles daily, especially for commercial use, save a lot on fuel and maintenance. From subsidies under schemes like FAME-II to reduced taxes and road permit benefits in many states, the push is clear.

What’s Happening on the Ground

TVS launched its own electric 3-wheeler, the TVS King EV, a couple of years ago. Since then, interest in electric autos and cargo loaders has been rising, especially in cities where fuel prices are high and routes are short.

Charging infrastructure is also expanding. Major cities now have better access to EV charging stations. Battery-swapping points are also becoming more common. This saves time and is very useful for commercial vehicles that are always on the move.

Still Some Challenges Ahead

Even with all the progress, some concerns remain. Many drivers are still unsure about battery life, resale value, and what happens if the truck breaks down in a small town without EV service options.

Another issue is vehicle financing. Getting a loan for an electric truck isn’t always simple, especially for people buying one for the first time or those with a limited income. It’s one of the main challenges right now. That said, things are slowly getting better. As more people start using EVs and more companies join the market, likely, financing options will likely become easier over time.

Looking at the Road Ahead

TVS Motor is confident that electric 3-wheelers will keep picking up speed in the coming years. Rajat Gupta, who leads their commercial mobility business, says this rise is being pushed from both sides — more people are using them for travel, and more businesses need them for short-distance deliveries.

He also shared that while the passenger side is growing a bit faster right now, the cargo space is catching up. With delivery networks and local logistics becoming more structured, the demand for cargo 3-wheelers is only going to rise.

You’d think getting a loan for an electric vehicle is just like getting one for a petrol car, but it’s not that simple, especially if you're buying for the first time or money's tight. That’s really been one of the biggest hurdles. But here’s the good part: things are slowly improving. More EVs are hitting the streets, and with more players entering the market, loan options are likely to get friendlier soon.

Conclusion

Electric 3-wheelers are no longer just a future idea; they are already becoming part of everyday transport, especially in cities. If things keep going the way they are, seeing more EVs than diesel or petrol autos by 2030 won’t be surprising.
But whether someone is thinking of switching to electric or just looking for a reliable commercial vehicle, having the right info matters. That’s where TrucksBuses.com comes in handy.

Also Read: Piaggio has Launched New Apé E-City Ultra and FX Maxx Electric 3-wheeler in India

---

Join us for the latest updates on the Truck Industry -

Facebook- https://bit.ly/TrucksBusesFB

Instagram- https://bit.ly/TrucksBusesInsta

YouTube- https://bit.ly/TrucksBusesYoutube

Twitter- https://bit.ly/TrucksBusesX

LinkedIn- https://bit.ly/TrucksBusesLinkedin

---

Frequently Asked Questions on Electric 3-Wheelers

Q1. What is an L5 electric three-wheeler?

 Ans: It’s a high-speed electric three-wheeler used for carrying goods or passengers.

Q2. Why are electric three-wheelers gaining popularity in India?

 Ans: Due to lower running costs, subsidies, and rising fuel prices.

Q3. Are electric three-wheelers cheaper to operate than petrol or diesel ones?

 Ans: Yes, they save money on fuel and maintenance over time.

Q4. Is the charging infrastructure improving for electric 3-wheelers in India?

Ans: Yes, especially in cities, with more charging and battery-swap stations.

Q5. Where can I compare electric three-wheeler options in India?

 Ans: On TrucksBuses.com, where you’ll find updated specs, prices, and comparisons.