The Future of Electric Trucking

India’s electric truck industry grew 97.3% in CY 2025 over CY 2024.

The market has crossed the line from “emerging” to “scalable” — and the buyers driving it are no longer early adopters in Small trucks. Single-truck owners, small operators, medium- and large fleets, and Corporate logistics are all considering electric trucks. This change is not due to policy alone, but to the TCO and payback period. However, these are the fleet owners who work on either a defined route or a 100-200 km-per-day duty cycle.

At ACG, we track this for each model, each variant, and each segment. Such market intel every OEM, supplier, fleet owner, and investor should know.

Sales of electric trucks in India doubled compared to last year due to the launch of new models, a smaller price gap between ICE and electric models, and improved product-market fit. It is expected that Electric truck sales in India will register a 49% CAGR between 2025 and 2030, as only urban transportation and fixed-route eHDT are currently suitable.

There are more than 100 applications available, and around 30% of truck applications are expected to be suitable for electric-truck operation by 2030. The Electric Truck Business case needs to be favorable for heavy-duty haulage and Tipper segments also to cover maximum Applications and large fleet owners.

The Future of Electric Trucking involves highly specialized analytics that cover OEMs, Suppliers, Fleet owners, Investors, government, and other stakeholders.

The Market Remains Small—but Growth Is Accelerating

The penetration of Electric Tractor Trailers is 0.7%, Mini Trucks 2.9%, Tipper 0.3%, and Pickup Trucks 1.5% in CY 2025. Electric Truck penetration remains very small, but it has begun to expand across various applications, and sales volume doubled in CY 2025 compared to CY 2024.

The Indian Electric Truck market size was 20.61 billion INR last year and is expected to reach 50 billion INR by 2030, driven by growing customer acceptance of Electric Trucks. Pickup and heavy-duty electric trucks are the fastest-growing segments due to their suitability for price, load, and duty cycles.

New Electric Truck Model launches:

More than 125 Electric Truck model variants are available for various Truck applications in 2026. The purpose of launching various variants is to map different applications feasible for Electric truck technology. The important point is that, rather than launching only minor-change variants, OEMs need to focus on technical specs and features that benefit fleet owners. Range is not the only criterion; trucks also consider payload, price, warranty, and ADAS features. The product must present a different value proposition for each application.  Euler sold 10 different variants of the Storm Model. Switch Mobility has a wide variety of models, including the SWITCH IeV3 and IeV4 base models. Indian Electric Pickup trucks offered a wide choice of variants and platforms in 2025. Favorable TCO and attractive payback periods have accelerated OEM investment in heavy-duty TT and Tipper electric trucks, with electric variants accounting for 35% of new model launches. Due to their long payback periods, no new Model Variants were launched for the LDT and HDT rigid haulers in 2025.

Price Position and purchase pattern:

The Electric Truck Affordable segment has a 93% market share due to minor price differences relative to ICE Truck variants in some cases, and is suitable for urban distribution transport. Euler and Mahindra’s new Electric truck models launched changed customer acceptability. Both brands have given tough competition to the Tata EV ACE PRO in this segment. Euler comes with ADAS features and Mahindra price advantages.

Propel is the market leader in the heavy-duty tipper segment with highly attractive TCO and payback period.

Tata Motors, Switch Mobility, Propel, IPL Tech, and Mahindra are the top OEMs to make revenue in 2025.

Based on variant-wise sales and price combinations, Tata Motors, Switch Mobility, Propel, IPL Tech, and Mahindra are the top 5 Revenue OEMs in India’s electric truck Industry.

Indian Electric Truck Competitor Landscape:

The Electric Truck market in India is highly dynamic compared to ICE because no single OEM dominates more than 2 segments. It shows how trucks are suitable for different customer segments.

Segment leadership varies significantly by Truck type, not just by brand name. Customers are choosing highly application-specific trucks. There is no single dominant player yet because OEMs are offering different vehicle types and target specific segments.

In the budget Electric Truck segment, Mahindra is a market leader with 48%, and Tata Motors captured 31% market share in 2025.

In the Electric Economy segment, Switch Mobility and Tata Motors are the market leaders, with market shares of 39% and 58%, respectively, in 2025.

There is no strong presence in the mid-premium and Mid-range segments.

In Premium Energy in Motion, the market leader has a 46% market share. In the Ultra Premium Electric HDT segment, Propel and IPL Tech are the leading Brands with 35% and 29%.

This fragmented competitive landscape creates opportunities for emerging and established brands to become leaders through an appropriate product strategy.

The Upgrade: What Does the Next Electric Truck Model Really Buy You?

ACG Incremental Value Analysis quantifies the additional capability obtained per additional rupee spent when upgrading from one electric truck model to another within the same segment. ACG considered all manufacturers to determine which model offers the best value for each rupee spent when changing variants; Euler Motors ranks first when customers choose to upgrade or switch to the Small Electric Truck brand, thanks to its incremental value.

Our Incremental Value Analysis showed that a few Euler model variants, a few EKA variants, and Tata Motors rank among the top 20 choices for delivering the best value to buyers.

ACG Value Diagnostic live Analytics tool:

Fleet owners make purchase decisions based on measurable benefits rather than just technical specs.  Customers are evaluating operating economy, price, resale value, finance, and payload. You can create a successful blueprint for the Electric Truck Strategy by considering multiple Dynamics of the Electric Truck Business and all key stakeholders. Our Value Diagnostic tools give you clear insight into the Electric Truck Market.

Payload Efficiency Vs Range Efficiency:

The best-selling models have more than 5 range efficiency in the Small Truck segment because range is a key criterion for most applications. The heavy-duty electric truck has different criteria and a definition because its operation differs, including the use of a tipper.

Euler Motors’ Winning Strategy:

Euler Motors’ products are highly competitive in the market. The top 10 Euler electric truck variants are highly efficient in India.  The attractive price, aggressive marketing, alignment with customer requirements, and the provision of premium features like ADAS at a minimum price make it a strong player in the Indian Electric Truck segment.

Outlook:

In 2026, the Indian Electric Truck Industry appears to be entering a transition phase. The core of the Truck business is economy and customer value, and not just technology. Now, fleet owners are starting to see customer value and long-term profits in electric trucks. The key stakeholders, such as OEMs, Fleet owners, Drivers, Logistics companies, charging infrastructure providers, and investors, see the ultimate growth potential in this technology.

A sustainable business model is more important than just sales volume because this positive business case will drive electric truck sales volume.

Key Highlights of the report:

• Indian Electric Truck Market Trend and Forecast
• 120 models-wise sales and key specifications.
• Segment-wise electric truck penetration
• Mapping with the fleet owners type
• Various application-wise sales forecast 2040 and penetration
• TCO, Payback period, and financial Analysis of electric trucks