🧠 Food for thought

Implications, context, and why it matters.

3ev’s projected 834 units for FY25 represent about 0.12% of India’s 691,300 electric three-wheeler (e-3W) sales in CY2024

• India sold 691,300 electric three-wheelers in 2024 1. That was 57% of global sales and up 18% year on year. Support from the Faster Adoption and Manufacturing of Electric Vehicles program (FAME) pushed prices toward parity. The Prime Minister e-DRIVE program (PM e-DRIVE) added momentum.
• 3ev projects 834 units in FY25. The tally trails Mahindra Last Mile Mobility (Mahindra & Mahindra’s three-wheeler unit), which sold 58,983 passenger e-3Ws in 2024, about 10% share. Bajaj Auto lifted cargo e-3W volumes about 1,290% year on year 2.
• Mahanagar Gas Ltd. (MGL), a city-gas distributor, praised 3ev’s Battery-as-a-Service model 3. 3ev plans to expand aftermarket support and tailor financing to ease adoption 4.

Charging vendors should watch Mahanagar Gas push into charging and swapping

• MGL plans Rs 1,325 crore for battery manufacturing and biogas ventures, expanding beyond Compressed Natural Gas (CNG) 5. It also partners on a large battery giga factory in Karnataka.
• The company can help set up charging and battery swapping (exchanging depleted packs for charged ones) sites using its network to support 3ev 6.
• Hardware suppliers and software providers can chase tenders across MGL sites. Grid services firms should scan bids for chargers, payment systems, and station integration.