Synopsis: The ongoing gas crisis of April 2026 has accelerated a structural shift in India’s last-mile connectivity, as drivers pivot toward electric three-wheelers (e-3Ws) to hedge against fuel volatility. Leading manufacturers like TVS Motor, Bajaj Auto, Atul Auto, and Tube Investments (Montra Electric) are spearheading this transition with high-performance L5 category vehicles.
The ongoing LPG and gas shortage in April 2026 has brought life to a standstill for thousands of autorickshaw drivers across India, particularly in hubs like Bengaluru. With nearly 80% of private LPG outlets shut due to West Asia supply disruptions, serpentine queues stretching for kilometres have become a common sight. Drivers are losing half their daily earnings waiting four to five hours for a single refill, while many are forced to push their empty vehicles as the lines inch forward
In the midst of this crisis, a structural shift is accelerating as drivers look toward electric three-wheelers as the ultimate hedge against fuel volatility. Electric auto drivers are currently the envy of the stands, operating seamlessly with running costs as low as 50 paise per kilometre while their counterparts remain stranded. As the government pushes for faster adoption through FAME-III incentives and green loans, the 2026 gas crisis may well be remembered as the tipping point for India’s last-mile connectivity.
Amidst this crisis and transition from ICE to EV, top manufacturers like Bajaj Auto, TVS Motor, and Montra Electric are perfectly positioned to lead this transition. These companies have moved beyond basic e-rickshaws to offer high-performance L5 category vehicles that match the speed and durability of traditional autos.
TVS Motors
TVS Motor Company has cemented its position as a powerhouse in the three-wheeler market, spearheaded by the iconic TVS King brand, which has successfully transitioned into the electric market with high-performance models like the King EV MAX and the King Kargo HD EV.
The King EV MAX passenger rickshaw leads with a best-in-class 179 km certified range and a powerful 11 kW motor, while the King Kargo HD EV serves the logistics sector with a massive 6.6-foot load deck and rapid 3-hour charging.
Looking at the monthly March sales update, TVS Motors Limited registered a monthly sales of 519,358 units in March 2026, with a growth of 25 percent as against 414,687 units in March 2025, with three wheelers registering a 46 percent growth in sales increasing from 14,567 units in March 2025 to 21,224 units in March 2026 and the EV segment registered a growth of 44 percent with sales increasing from 26,935 units to 38,877 units.
Bajaj Auto
Bajaj Auto Ltd remains one of the leading players in the automotive industry. It made a transition into EV driven by its advanced electric portfolio, spearheaded by the high-performance RE E-TEC and Maxima XL brands, which have redefined urban commuting and last-mile logistics with superior range and build quality.
The Bajaj RE E-TEC 9.0 is the premier passenger EV, offering a massive 178 km range featuring an 8.9 kWh IP67-rated batter achieving a top speed of 45 km/h and the Bajaj Maxima XL Cargo E-TEC 12.0 a powerhouse for the logistics sector, features a larger 11.8 kWh LFP battery with a certified range of 183 km and it offers a robust payload capacity of 500 kg.
For March, Bajaj Auto Limited achieved a total sales volume of 4,45,377 units from 3,69,823 units last year, with a 20 percent growth. The commercial vehicles segment made a sale of 64,904 units from 54,091 units last year with a 20 percent growth.
Atul Auto
Atul Auto Ltd has maintained its status as a significant player in the three-wheeler market. The company operates its EV business primarily through its subsidiary, Atul Greentech, focusing on both affordable low-speed e-rickshaws and more powerful cargo solutions, divided into low-speed (L3) and high-speed (L5) categories
Atul Auto Ltd offers a versatile electric lineup starting with the entry-level Atul Elite Plus and Atul Elite Cargo, both reaching a top speed of 25 km/h with an 80 km range, while the premium Atul Mobili passenger and Atul Energie cargo models provide superior performance with speeds of 45 km/h and extended ranges of 110 km and 195 km, respectively
Looking at the monthly March sales update, Atul Auto Ltd made a total sale of 3,404 units from 3,391 units last year, a 0.38 percent growth. Of the total sales, it clocked three-wheeler EV sales of 699 units from 683 units in March 2025 last year, with a 2.34 percent growth.
Tube Investments
Montra Electric is the clean mobility brand of TI Clean Mobility, a subsidiary of Tube Investments of India (TII), which is part of the century-old Murugappa Group. The company focuses on personal and commercial electric vehicles, specifically targeting the “last-mile” connectivity and logistics sectors.
The Montra Electric lineup by Tube Investments focuses on two high-performance models: the Super Auto for passengers and the Super Cargo for logistics, with a certified range of 197 km with a top speed of 55km/hr and 200+km with a 45km/hr, respectively.
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