The Global EV Outlook 2025 report

Major Key Highlights of Global EV Outlook Report 2025

• Global electric car sales (battery-electric and plug-in hybrids) surpassed 17 million units in 2024, with projections to exceed 20 million in 2025.
• Over 25% of new cars sold worldwide in 2025 are expected to be electric, compared to just 9% in 2021.
• Nearly 58 million electric cars are now on the road, making up about 4% of the world’s passenger vehicles.
• Regional Trends

• China: Continues to dominate, producing about 70% of new EVs and accounting for nearly half of global EV sales. Almost 50% of new cars sold in China are electric.
• Europe: Remains a strong market, exporting over 800,000 EVs in 2024.
• United States: Sold 1.6 million EVs in 2024 (10% of new car sales), but growth is slowing due to policy headwinds.

Indian Scenario:

• India maintained its position as the world’s largest market for electric three-wheelers for the second year in a row, with sales rising nearly 20% to about 700,000 vehicles in 2024.
• Despite a 5% shrinkage in the overall global 3W market, electric 3W sales grew by more than 10%, surpassing 1 million vehicles in 2024. India and China together account for over 90% of global 3W sales (electric and conventional).
• India’s electric 3W sales share hit a record 57% in 2024, up 3% from the previous year. In contrast, China’s electrification of 3Ws has stagnated below 15% for three years.

Electric 3-Wheelers

Fuel-Based (Diesel/Petrol) 3-Wheelers

Electric 3-wheelers have a tank-to-wheel efficiency of around 70–80%. This means that 70–80% of the energy from the battery is actually used to move the vehicle.

Diesel and petrol 3-wheelers have much lower efficiency, only about 25–35% of the fuel’s energy is used for movement; the rest is lost as heat and noise.

• Much cheaper to run, with fuel (electricity) costs around ₹0.54 per km and total operating expenses (including maintenance) about ₹0.96 per km.
• Over 8 years, total ownership costs are nearly half those of a diesel 3-wheeler, saving up to ₹7.85 lakh (about 45% less).

• • Higher running costs, with fuel expenses alone around ₹3.75 per km and total operating expenses about ₹4.36 per km.
  • Maintenance is more frequent and expensive due to more moving parts and regular servicing needs.

Offer higher acceleration and smoother handling due to instant torque and direct drive (no gears or clutch). Well-suited for city and short-distance travel; recharge time is a factor for longer trips.

Generally have longer range per refuel and can be refueled quickly, making them preferable for long-distance or rural routes. Slower acceleration and more vibration/noise compared to electric models.

Maintenance and Durability

Fewer moving parts mean less frequent repairs and lower maintenance costs. Main maintenance is battery replacement, but overall reliability is higher.

Require regular servicing (oil changes, filter replacements, exhaust repairs), leading to higher downtime and costs.

Environmental Impact

Produce zero tailpipe emissions, helping reduce air pollution and carbon footprint, especially important in urban areas.

Emit CO₂, NOx, and particulate matter, contributing to air pollution and health problems.