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EIE Renewables to Acquire 150 MWh Battery Storage Project in Bihar

MERC Approves 60 MW Wind-Solar PPA Withdrawal, Citing High Tariff


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					</table><p>Electric vehicle (EV) sales in India reached 696,769 units in the first quarter (Q1) of 2026, an increase of over 35.5% year-over-year (YoY) against the 514,198 units.</p>
<p>EVs account for 9% of overall automobile sales, which totaled 7,889,101 units in Q1 2026, according to data released by the <a href="https://morth.nic.in/" target="_blank" rel="noopener">Ministry of Road Transport and Highways</a> through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml" target="_blank" rel="noopener">Vahan Dashboard</a>.</p>
<p>India now has over 8.35 million registered EVs.</p>
<p><strong>Electric two-wheelers</strong></p>
<p>Electric two-wheelers accounted for nearly 61% (427,773) of total EVs sold in Q1 2026. <a href="https://www.tvsmotor.com/" target="_blank" rel="noopener">TVS Motor Company</a> led the segment with the highest sales at 116,290, followed by <a href="https://www.bajajauto.com/" target="_blank" rel="noopener">Bajaj Auto</a> (97,616), <a href="https://www.atherenergy.com/" target="_blank" rel="noopener">Ather Energy</a> (78,858), <a href="https://www.heromotocorp.com/en-in.html" target="_blank" rel="noopener">Hero Motocorp</a> (47,442), and  <a href="https://www.olaelectric.com/experience-centre-visit-registration?utm_source=google&amp;utm_medium=cpc_search&amp;utm_campaign=Brand-Top-cities-ola-test-ride&amp;gad_source=1&amp;gclid=Cj0KCQiAhc-sBhCEARIsAOVwHuTgMIs6kH_Xjc13dhtee2m14FCz6So6bcbJr8rE2hvqoVe4DSopMLQaApFjEALw_wcB" target="_blank" rel="noopener">Ola Electric</a> (21,626).</p>
<p><strong>Electric three-wheelers</strong></p>
<p>Electric three-wheelers constituted 29.5% (205,703) of all EVs sold during the quarter. <a href="https://www.bajajauto.com/" target="_blank" rel="noopener">Bajaj Auto</a> sold 26,290 units, the most in this category, followed by <a href="https://mahindralastmilemobility.com/" target="_blank" rel="noopener">Mahindra Last Mile Mobility</a> (24,372), <a href="https://www.tvsmotor.com/" target="_blank" rel="noopener">TVS Motor Company</a> (8,008), <a href="https://www.ycevehicles.com/" target="_blank" rel="noopener">YC Electric Vehicle </a> (6,295), and <a href="https://www.citylifeev.com/" target="_blank" rel="noopener">Dilli Electric Auto</a> (5,109).</p>
<p><strong>Electric four-wheelers</strong></p>
<p>Electric four-wheelers accounted for 8% of total sales, or 55,200 units, in Q1. <a href="https://www.tatamotors.com/" target="_blank" rel="noopener">Tata Passenger Electric Mobility</a> led the segment again, selling 21,782 units, followed by <a href="https://www.mgmotor.co.in/" target="_blank" rel="noopener">JSW MG Motor</a>, selling 13,525 units. Other significant electric four-wheeler companies in the market include <a href="https://www.mahindra.com/our-business/automotive" target="_blank" rel="noopener">Mahindra Electric Automobile</a> (11,848), <a href="http://vinfastauto.in/en/node/3" target="_blank" rel="noopener">VinFast Auto </a>(1,560), and <a href="https://www.marutisuzuki.com/" target="_blank" rel="noopener">Maruti Suzuki </a>(1,401).</p>
<p><strong>Electric buses</strong></p>
<p>The quarter saw the sale of 1,518 electric buses. <a href="https://www.switchmobilityev.com/" target="_blank" rel="noopener">Switch Mobility Automotive</a> led the segment, selling 542 units, followed by <a href="https://www.jbmgroup.com/" target="_blank" rel="noopener">JBM Auto</a> with 451 units. Other significant electric bus companies in the market include <a href="https://pmielectro.com/" target="_blank" rel="noopener">PMI Electro Mobility Solutions</a> (256)<strong>, </strong><a href="https://aeroeagle.co.in/" target="_blank" rel="noopener">Aeroeagle Automobiles</a> (71), and <a href="https://olectra.com/" target="_blank" rel="noopener">Olectra Greentech</a> (65).</p>
<p>EV sales in India reached a record 2.27 million units in 2025, an over 16% year-over-year increase from 1.95 million units <a href="https://www.mercomindia.com/electric-vehicle-sales-2024/" target="_blank" rel="noopener">sold </a>in 2024.</p>
<p>Recently, Parliament’s Standing Committee on Industry <a href="https://www.mercomindia.com/parliamentary-panel-flags-low-ev-program-utilization-and-skewed-spending-by-mhi/" target="_blank" rel="noopener">raised</a> concerns about the dominance of the automobile and EV ecosystem in the MHI budget, which is around ₹75.37 billion (~$802.49 million), accounting for about 94.9% of total MHI demand. The Committee warned that these enhanced outlays must be backed by realistic implementation pipelines and constant monitoring to avoid under-utilization and cuts at the revised estimates stage.</p>


Electric Vehicle Sales Clock 35% YoY Growth in Q1 2026


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					</table><p>Electric vehicle (EV) sales in India reached a record 2.27 million units in 2025, an over 16% year-over-year increase from 1.95 million units <a href="https://www.mercomindia.com/electric-vehicle-sales-2024/" target="_blank" rel="noopener">sold </a>in 2024.</p>
<p>EVs accounted for 8% of overall automobile sales, according to data released by the <a href="https://morth.nic.in/" target="_blank" rel="noopener">Ministry of Road Transport and Highways</a> through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml" target="_blank" rel="noopener">Vahan Dashboard</a>.</p>
<p>The EV market consistently surpassed the 100,000-unit mark each month, with October recording the highest sales at 236,629 units, followed by November at 218,641 units and March at 205,299 units.</p>
<p>Maharashtra had the highest number of EVs sold, with 266,524 vehicles, followed by Karnataka with 203,288 and Madhya Pradesh with 139,537.</p>
<p>India now has over 8.1 million registered EVs.</p>
<p><strong>Electric two-wheelers</strong></p>
<p>Electric two-wheelers accounted for nearly 56% (1.28 million) of total EVs sold in 2025. <a href="https://www.tvsmotor.com/" target="_blank" rel="noopener">TVS Motor Company</a> led the segment with the highest sales at 299,010, followed by <a href="https://www.bajajauto.com/" target="_blank" rel="noopener">Bajaj Auto</a> (269,900), <a href="https://www.atherenergy.com/" target="_blank" rel="noopener">Ather Energy</a> (200,874), <a href="https://www.olaelectric.com/experience-centre-visit-registration?utm_source=google&amp;utm_medium=cpc_search&amp;utm_campaign=Brand-Top-cities-ola-test-ride&amp;gad_source=1&amp;gclid=Cj0KCQiAhc-sBhCEARIsAOVwHuTgMIs6kH_Xjc13dhtee2m14FCz6So6bcbJr8rE2hvqoVe4DSopMLQaApFjEALw_wcB" target="_blank" rel="noopener">Ola Electric</a> (199,324), and <a href="https://www.heromotocorp.com/en-in.html" target="_blank" rel="noopener">Hero Motocorp</a> (109,200).</p>
<p><strong>Electric three-wheelers</strong></p>
<p>Electric three-wheelers constituted 35% (796,658) of all EVs sold during the year. <a href="https://mahindralastmilemobility.com/" target="_blank" rel="noopener">Mahindra Last Mile Mobility</a> sold 95,282 units, the most in this category, followed by <a href="https://www.bajajauto.com/" target="_blank" rel="noopener">Bajaj Auto</a> (78,544), <a href="https://www.ycevehicles.com/" target="_blank" rel="noopener">YC Electric Vehicle </a> (41,229), <a href="https://www.saeraauto.com/" target="_blank" rel="noopener">Saera Electric Auto</a> (24,799), and <a href="https://www.citylifeev.com/" target="_blank" rel="noopener">Dilli Electric Auto</a> (21,916).</p>
<p><strong>Electric four-wheelers</strong></p>
<p>Electric four-wheelers accounted for 7.5% of total sales, or 170,266 units, in 2025. <a href="https://www.tatamotors.com/" target="_blank" rel="noopener">Tata Motors</a> led the segment again, selling 65,942 units, followed by <a href="https://www.mgmotor.co.in/" target="_blank" rel="noopener">JSW MG Motor</a>, selling 50,654 units. Other significant electric four-wheeler companies in the market include <a href="https://www.mahindra.com/our-business/automotive" target="_blank" rel="noopener">Mahindra Electric Automobile</a> (30,143), <a href="https://www.hyundai.com/in/en" target="_blank" rel="noopener">Hyundai</a> (6,700), and <a href="https://bydautoindia.com/" target="_blank" rel="noopener">BYD</a> (5,113).</p>
<p><strong>Electric buses</strong></p>
<p>The year saw the sale of 4,395 electric buses. <a href="https://pmielectro.com/" target="_blank" rel="noopener">PMI Electro Mobility Solutions </a>led the segment, selling 1,041 units, followed by <a href="https://olectra.com/" target="_blank" rel="noopener">Olectra Greentech</a>, selling 989 units. Other significant electric bus companies in the market include <a href="https://www.switchmobilityev.com/" target="_blank" rel="noopener">Switch Mobility Automotive </a>(950), <a href="https://www.jbmgroup.com/" target="_blank" rel="noopener">JBM Auto</a> (692), and <a href="https://pinnacleindustries.com/" target="_blank" rel="noopener">Pinnacle Mobility Solutions </a>(305).</p>
<p>EV sales in India <a href="https://www.mercomindia.com/electric-vehicle-sales-clock-12-5-yoy-growth-in-q3-2025" target="_blank" rel="noopener">reached</a> 560,637 units in the third quarter of 2025, an over 12.5% year-over-year increase from 497,974 units.</p>


Electric Vehicle Sales Clock 16% Yearly Growth in 2025, Reach 2.3 Million Units


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					</table><p><a href="https://www.mercomindia.com/ev-sales-sustain-growth-momentum-q1-2024/" target="_blank" rel="noopener"><strong>Electric vehicle (EV) sales in India reached a record 486,669 units in the first quarter (Q1) of 2024, a jump of over 40% year-over-year against the 347,676 units sold in the same period of 2023.</strong></a> The EV market consistently exceeded the 100,000-unit threshold each month during the quarter, and March witnessed the highest-ever monthly sales figure of 204,337 units. EVs account for 7.9% of overall automobile sales, which totaled 6,157,070 units in Q1 2024.</p>
<p><a href="https://www.mercomindia.com/luminous-solar-facility-uttarakhand/" target="_blank" rel="noopener"><strong>Luminous Power Technologies inaugurated a 250 MW solar module manufacturing facility in Rudrapur, Uttarakhand.</strong></a> The fully automated 10-acre plant built with an initial investment of ₹1.2 billion (~$14.4 million) is expandable up to 1 GW capacity, the company said. The launch marks a strategic shift for Luminous from being just a maker of solar inverters and batteries to now manufacturing solar modules. The company also claims to be the only Indian firm that can design and build complete solar power generation systems. Luminous aims to double its growth in three years.</p>
<p><a href="https://www.mercomindia.com/ntpc-green-scheduling-of-130-mw-solar-project/" target="_blank" rel="noopener"><strong>NTPC Green Energy (NGEL) has invited bids from qualified coordinating agencies to provide all forecasting and scheduling-related services for the 130 MW Bhadla Solar power project.</strong></a> The last date for submitting bids is April 4, 2024. Bids will be opened the next day. Bidders will be responsible for ensuring comprehensive project data collection, utilizing information provided by NGEL, and gathering any additional necessary data daily. Bidders are tasked with forecasting and scheduling duties, which encompass providing detailed forecasting data in 15-minute increments, timely submission of day-ahead schedules, and intra-day forecasting revisions.</p>
<p><strong><a href="https://www.mercomindia.com/ntpc-50-mw-concentrated-solar-project" target="_blank" rel="noopener">NTPC has invited expressions of interest from bidders to set up a 50 MW interstate transmission system-connected concentrated solar power project with a thermal energy storage</a></strong> system operational for eight hours during peak and non-solar hours on a build-own-operate basis. The bids are open to Indian and global companies or their consortium, affiliates, and representatives.</p>
<p><a href="https://www.mercomindia.com/gic-sterlite-jv/" target="_blank" rel="noopener"><strong>In a bid to expand India’s power transmission network, Sterlite Power, a transmission developer, and Singapore-based GIC, an investment firm, have announced the creation of a joint venture (JV).</strong></a> The JV will focus on developing and operating power transmission projects across the country to meet the rapidly growing demand for energy evacuation. Under the agreement, Sterlite Power will hold a 51% majority stake in the new company, while GIC will own the remaining 49%.</p>
<p><a href="https://www.mercomindia.com/zetwerk-fast-chargers-indian-oil/" target="_blank" rel="noopener"><strong>Bengaluru-based Zetwerk, an industrial and consumer infrastructure firm, has won a contract to set up over 1,400 EV fast chargers for Indian Oil Corporation (IOCL) across the country.</strong></a>The fast chargers, with capacities ranging from 50-60 kW and 100-120 kW, will be capable of simultaneously charging two EVs using dynamic load-sharing technology. These DC dual gun Combined Charging System 2 DC chargers will be installed in major cities and key highways to enhance accessibility and convenience for EV drivers, the company said.</p>


Daily News Wrap-Up: Electric Vehicle Sales Up 40% YoY in Q1 2024

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