Two- and three-wheelers (2/3Ws)1 remained the most electrified road transport segment in 2024, with more than 9% of the global fleet now electric. The global sales share of electric models remained at around 15% in 2024 with total electric model sales reaching 10 million. The electric sales share stalled in 2024, mostly due to the shrinking Chinese electric 2/3W market, although growth in other regions was steady. China, India and Southeast Asia remain the world’s largest 2/3W markets, accounting for around 80% of 2024 global sales, with 2/3Ws serving as the primary mode of private passenger transport in India and Southeast Asia.

Electric 2/3Ws stand out as the most affordable and accessible entry point into electric mobility. Unlike cars, many models do not rely on extensive charging infrastructure, as removable batteries allow users to charge at home, and those with private parking or garages can easily charge their electric 2/3Ws using standard sockets. The removable batteries have also led to the growing emergence of battery swapping stations for 2/3Ws, which can be particularly useful for 2/3Ws that are used as taxis or for delivery services, where quick recharging is highly valued. This – combined with lower operating costs when compared to cars – means that electric 2/3Ws offer a promising solution for reducing urban emissions and improving air quality in emerging markets and developing economies, where 2/3Ws are widely used for daily transportation.

In China, falling sales of electric 2Ws in 2024 were the product of an overall decline in the 2W market, yet the country remains the world’s largest market for electric 2Ws. Electric models have accounted for more than half of 2W sales since 2020, with sales totalling about 7 million in 2024. Sluggishness in China’s 2W market reflects an increasing preference for cars for personal transport, and may also be a sign that consumers are responding to tighter restrictions on 2W use in major cities. The 2W market is shifting toward higher-value motorcycle models, likely indicating a change in consumer profile. At the same time, the Chinese government launched a trade-in programme for electric bicycles in 2024, boosting their sales. Urban commuters, in particular, may be attracted by e-bikes as a lower-cost alternative that enables access to bike lanes and areas where 2Ws are banned.

As the Chinese market for electric 2Ws continues to decline, the country’s OEMs are looking abroad for growth opportunities. China’s largest electric 2W manufacturer, Yadea, broke ground on a USD 150 million new assembly plant in Indonesia in 2024, which has a planned output of 3 million vehicles by 2028 (likely to also include e-bikes). In recent years, Chinese OEMs have also established manufacturing capacities in other large Southeast Asian electric 2W markets such as Viet Nam, the Philippines and Thailand, making their way into the top five electric 2W brands in each of these countries.

India’s increasingly dynamic electric 2W market hosted a total of 220 OEMs in 2024, up from 180 in 2023, although the 4 market leaders accounted for a combined 80% of the 1.3 million electric 2Ws sold in the country in 2024 (6% of the overall 2W market). While the upfront purchase price of electric 2Ws remains higher on average than that of conventional 2Ws, increasing competition is prompting OEMs to offer more affordable electric models. For example, the Indian market leader, Ola, released its S1X entry model, equipped with a 2 kWh battery and 6 kW peak power, with a sticker price of INR 70 000 (about USD 850) – lower than the average price of the five best-selling ICE 2W models. Policy support is also helping to bridge the affordability gap between electric and ICE 2W models, with the new PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) policy continuing financial support formerly provided under both Faster Adoption and Manufacturing of Electric Vehicles (FAME)-II and Electric Mobility Promotion Scheme measures. This provides purchase incentives for electric 2Ws (offering purchase subsidies of up to INR 5 000/kWh for 2Ws fitted with lithium-ion batteries), as well as for 3Ws and other emerging EV categories (specifically excluding private cars), with a total budget of USD 1.3 billion. The scheme is planned to operate until March 2026 to support the roll-out of about 2.5 million electric 2Ws, up from 1 million targeted under the previous FAME-II policy. On the manufacturing side, the 80 largest electric 2W makers in India accounted for a combined production capacity of 10 million electric 2Ws in 2024, almost 8 times the domestic sales that year. Capacity is expected to increase to 17 million electric 2Ws in the near term, if all OEM announcements come to fruition.

Southeast Asia made notable progress on 2W electrification in 2024, particularly in Viet Nam, which recorded 250 000 sales (a sales share close to 10%); in Indonesia, where there were about 105 000 sales; and in the Philippines, with more than 25 000. Indonesia saw its electric 2W market almost double in size, but the share of electric sales remained below 2%. Nevertheless, the trend towards electrification in what is the world’s third-largest 2W market is likely to continue given the strong policy support in place (in 2023, nearly USD 0.5 billion was allocated to support the deployment  of 800 000 electric 2Ws over the following years), as well as the new manufacturing capacity being rolled out by established Chinese OEMs.

Viet Nam’s 2W electrification success story has been underpinned by the continued roll-out of increasingly affordable electric 2W models manufactured by domestic champions like VinFast and Pega, and now also by Chinese OEMs. To date, several electric models are sold at under VND 20 million (Vietnamese dong) (USD 780) (such as VinFast’s Evo200 and Yadea’s Orla), making them price-competitive with conventional alternatives. These affordable purchase prices are partly a result of existing battery leasing options, which reduce the vehicle purchase price and can cost consumers as little as VND 350 000 (under USD 14) per month. They can also be easily integrated with battery swap programmes. The increasing affordability of electric models, ongoing development of charging infrastructure for models without removable batteries, and Viet Nam’s ambition to fully electrify its road transport sector by 2050 is likely to drive further growth in electric 2W sales in the coming years.

Sales of electric 2Ws in Africa grew nearly 40% year-on-year to reach 9 000 vehicles, marking a slim 0.5% sales share in the continent’s total 2W sales. However, domestic OEMs have invested significantly in recent years to set up domestic manufacturing facilities. For example, Spiro is set to break ground on an assembly plant in Nigeria in 2025 with an expected annual output of 100 000 electric 2Ws, 100 times the capacity of its assembly plants in Togo and Benin. Other electric 2W manufacturers, such as Roam in Kenya and Ampersand in Rwanda, also recently announced investments to ramp up their capacity across African countries. Beyond increasing manufacturing investments, asset financiers like M-KOPA, Mogo, and Watu are helping consumers and small business owners access electric motorcycles through flexible payment plans and lease-to-own schemes.

Elsewhere, in Europe, the average electrification rate of 2W sales has decreased to about 6%, despite the 2W market growing overall. With year-on-year sales growing to more than 50 000 electric 2Ws, Türkiye has secured its position as the leading market outside of Asia, followed by France and the Netherlands, despite those markets stagnating in 2024. 

Despite the global three-wheeler (3W) market shrinking 5% from the previous year, electric 3W sales grew more than 10% to surpass 1 million vehicles in 2024. Electric 3W sales represented almost one-quarter of all 3W sales, up from one-fifth in 2023. The market is highly concentrated, with China and India together accounting for more than 90% of both electric and conventional 3W sales. 

Electrification of 3Ws in China has stagnated at less than 15% over the past 3 years. In 2023, India overtook China to become the world’s largest market for electric 3Ws, and it maintained this position in 2024, with sales growing close to 20% year-on-year to reach nearly 700 000 vehicles. This translated into a record 57% electric sales share in 2024, 3% up on the previous year. This growing trend looks set to continue thanks to policy support under the new PM E-DRIVE scheme, which allocated budget in 2024 to support the roll-out of more than 300 000 electric 3Ws for commercial use – for which the total fleet (electric and ICE) was estimated at more than 10 million vehicles in 2023.

Elsewhere, in Europe, the electric 3W sales share has grown steeply in the past 2 years, pushed up by growth in the Turkish market. In 2024, Türkiye accounted for 60 000 electric 3Ws sold out of a total European 3W market of about 90 000. 

Sales of electric light commercial vehicles (LCVs) increased by more than 40% in 2024 to exceed 600 000, with a share of 7%, up from 5% in 2023. China and Europe remained the two largest markets for electric LCVs in 2024, but while China saw growth of almost 90%, with sales reaching roughly 450 000, sales in Europe declined by about 10% to less than 120 000. The United States emerged as the third-largest market, taking the spot from Korea, with sales of more than 25 000 and strong year-on-year growth of 55%. 

The continued sales growth in China has been supported by LCVs being eligible for the vehicle purchase tax exemption for new energy vehicles that was put in place in 2014. The full tax exemption has been extended through 2025, and a 50% tax exemption will be available until the end of 2027. Preferential road rights policies, charging discounts and charging subsidies are further supporting EV adoption among commercial users.

In Europe, the electric sales shares declined in several important LCV markets, such as Germany, Norway and France, or stalled, as in the case of Sweden. However, in the United Kingdom – the largest market for electric LCVs in Europe – sales continued to grow, reaching nearly 7%. As with cars, 2024 was the first year of zero-emission van targets under the Vehicle Emissions Trading Scheme, which will progressively require higher sales shares of zero-emission LCVs over the coming decade.

Some small markets such as Czechia, Greece, Hungary and especially Romania have seen notable increases, albeit starting from a very low base. Despite no new incentives being introduced between 2023 and 2024 in these markets, the growth suggests that there were some segments that could be easily electrified with existing technology. In fact, the total cost of ownership of electric LCVs is already equal to or below that of conventional alternatives for certain applications in Europe. Nevertheless, in Germany – a more developed market – the decline in sales may have been a result of the removal of incentives (which also affected LCV applications that are harder to electrify based on current pricing or model availability) and by the design of the EU CO₂ emission regulations for vans, which gave the automotive industry little incentive to accelerate sales in 2024 before the next phase taking effect in 2025.

Some European cities have promoted electric LCV adoption by establishing Low Emissions Zones (LEZs), though there is no uniform European regulation, with regulations being decided at the city level. London has the largest LEZ in the world, which has favoured uptake. As of the beginning of 2025, LEZs can also be found in Amsterdam and 14 other cities in the Netherlands, as well as in Brussels, Ghent, and Stockholm. In the case of the Netherlands, the introduction of LEZs from 2025, together with the exemption of vehicle tax for LCVs being removed for ICE LCVs, led the sales share of electric LCVs to leap to more than 90% in the first quarter of 2025, compared to less than 10% on average in 2024. The number of LEZs in Europe grew significantly from 228 in 2019 to 320 in 2022, with more expected to come online in 2025, further encouraging uptake of EVs and improving air quality, while also potentially reducing traffic congestion.

In 2023, the sales share of electric LCVs in Korea was double the level of electric passenger cars, continuing a trend that started in 2020. While the sales share of electric LCVs remained higher than cars in 2024, both the volume of sales and their sales share declined sharply. Despite strong initial adoption of electric LCVs in Korea, partially due to the availability of free commercial licence plates for electric models, drivers have since reported that real-world range and model availability is insufficient for many commercial applications, which may be influencing the slowdown. In 2023, the only electric LCVs on the market were the Kia Bongo and the Hyundai Porter, both 1-tonne trucks with a battery capacity of about 60 kWh. While these vehicles had initially been able to meet the needs of some portions of the market, boosting sales, reaching new market segments has proved difficult. In 2024, Hyundai launched the ST1 Cargo electric, which has a larger battery (76 kWh) and an advertised range of around 300 km, but also has a higher purchase price. In 2024, Korea introduced stricter performance requirements for their subsidy scheme, which effectively restricted subsidies for models with lithium iron phosphate (LFP) batteries, typically used in Chinese-manufactured models.

Across Europe, Korea and the United States, 2024 saw the introduction of around ten new electric LCV models, the majority of which were launched in European countries. Ford expanded its e-Transit line, which remains one of the world’s best-sellers in the electric LCV category, offering a 30% increase in range and more possible applications, such as refrigerated delivery. BYD targeted the last-mile delivery market in Europe with the E-Vali, while Mercedes-Benz introduced the eSprinter in the United States. 

Electric LCV fleets are becoming increasingly popular, particularly in the parcel delivery sector, as companies strive to reduce their environmental impact and operating costs. As part of its goal to reach 100 000 electric delivery vehicles by 2030, Amazon now has 20 000 vehicles through a 2019 agreement with Rivian, which has tailored a vehicle to Amazon's needs, with the first vehicles delivered in 2021. In 2024, Rivian represented 40% of the US electric LCV market and its sales are steadily growing.

Elsewhere, Ingka Group, the biggest IKEA franchisee, served 40% of home deliveries with zero-emission vehicles, advancing towards its goal of more than 90% by 2028. Shanghai was the first city to reach this goal, achieving 100% EV-based deliveries as early as 2019. In India, IKEA has partnered with EKA Mobility to supply last-mile delivery with electric vans, while in Korea, DHL has partnered with Kia to deploy the forthcoming Kia PV5 tailored to DHL needs from 2026.