From 13,040 units in CY2021 to a record 112,300 units in the first eight months of CY2025, the electric passenger vehicle industry in India is witnessing robust growth driven by increased consumer awareness, diversified product offerings and a growing charging infrastructure. We reveal the movers and shakers of the 14-OEM segment which bids fair to achieve record sales of 175,000 units this year.
09 Sep 2025 | 3835 Views | By Ajit Dalvi
Today – September 9, 2025 – is the sixth anniversary of World EV Day, the biggest electric mobility campaign of the year. It is a day which assumes even more importance in a world getting ravaged by the unbridled advance of climate change. World EV Day aims to unite companies and ...
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Today – September 9, 2025 – is the sixth anniversary of World EV Day, the biggest electric mobility campaign of the year. It is a day which assumes even more importance in a world getting ravaged by the unbridled advance of climate change. World EV Day aims to unite companies and individuals, policy makers and thought leaders to propel the zero-emission movement worldwide.
In India, currently the world’s fastest growing economy, the electric passenger vehicle (e-PV) industry is witnessing strong growth and is part of India EV Inc’s effort to accelerate clean mobility. Over the past five years, e-PV demand has risen from a negligible share of overall sales to 3% of the 3.48 million PVs sold in the January-September 7, 2025 period.
Compared to the more affordable electric two- and three-wheeler segments, the e-PV industry was off to a slow start. As per Vahan retail sales data, e-PV OEMs have clocked cumulative retail sales of nearly 346,000 units between CY2021 and the first week of September 2025.
A deep dive into five-year statistics reveals that following the pandemic-impacted CY2021 when 13,030 e-PVs were sold, demand rose 193% YoY to 38,251 units in CY2022, and more than doubled to 82,607 units in CY2023. Sales rose 21% in CY2024 to a record 99,775 units, narrowly missing the 100,000-mark by just 225 units.
CY2025 though has already turned out to be a record year for electric car, SUV and MPV manufacturers in India. The cumulative 100,000-units mark was breached in August itself, with the month turning out to be the best yet for the segment with 17,298 units and an improvement on July’s 16,097 units. At present there are 14 e-PV OEMs in the fray, comprising seven Indian and seven global manufacturers. Let’s take a closer look at their five-year performance.
Tata Motors, the current e-PV market leader accounts for 207,370 units of the total 344,996 units sold since CY2021 and a 60% market share over five years. It entered the EV market with the Tigor EV in CY2018 and sold 564 units till CY2019. The launch of the Nexon EV in CY2020 drove sales up to 2,716 units that year.
In CY2021, Tata sold 10,034 Tigor and Nexon EVs and then registered a near- three-fold increase to 32,216 units in CY2022. September 2022 saw the Tiago EV roll out and the compact hatchback helped provide the robust growth of 86% YoY in CY2023 (60,082 units) when Tata Motors commanded a 73% share of the overall e-PV market.
CY2024 though was a reality check to Tata, what with JSW MG Motor India becoming a strong rival and eating into its market share. Tata Motors, which launched the Punch EV in January and Curvv EV in August that year, sold 61,766 units – just 1,684 units more YoY – which saw its market share drop to 62 percent. In CY2025 to date, Tata Motors has sold 43,272 units, which is 70% of its CY2024 sales and gives it a market share of 39 percent.
The recent launch of the Harrier EV has helped revive demand and sales have crossed 6,000 units for the second month in a row – August’s 7,088 units are up 13% on July’s 6,243 units, up 61% YoY (August 2024: 4,390 units).
The e-PV industry’s accelerated growth in the past 20 months can be attributed to JSW MG Motor India. From CY2021, when it had an 18% market share with 2,383 units, to CY2025 YTD (35,337 units) and a 31% share, this OEM has made inroads into Tata Motors’ market share with the huge success of the Windsor EV and its BaaS option.
It has recently expanded its portfolio with the M9 MPV, which marks its foray into the premium EV segment, along with the Cyberster electric roadster priced at Rs 72.49 lakh. Both models are retailed through the new MG Select network. Over the five-year period under review, JSW MG Motor India has sold a total of 72,492 units, which gives it a 21% share.
Mahindra & Mahindra was the first of the legacy ICE OEMs to plug into e-mobility with the e2O hatchback from Mahindra Reva (March 2013) followed by the e-Verito sedan (June 2016) and the XUV400 e-SUV in January 2023. As per Vahan stats, M&M has clocked cumulative sales of 31,828 units in the past four years and eight months, which gives it a 9% market share.
Between 2016 and 2020, in the nascent e-PV industry in India, it was the market leader with total sales of 4,210 units, as per Vahan. CY2025 has seen the M&M achieve strong growth, due to the launch of its two new electric origin SUVs – BE 6 and XEV 9e. These two models have helped sales grow rapidly to 20,022 units which gives the company an 18% market share for CY2025 YTD.
Ranked fourth on the e-PV OEM sales ranking table is BYD India, the local arm of China’s and the world’s largest electric PV manufacturer with cumulative five-year sales of 8,890 units and a 2.57% share. With its portfolio gradually expanding from the e-Max MPV to the Atto 3 SUV, Seal sedan and Season 7 SUV, sales have also risen YoY.
From 453 EVs four years ago to 2,012 units in CY2023, 2,870 units in CY2024 and 3,555 units in CY2025 YTD. May 2025 (530 units) remains BYD India’s best month ever since the Chinese OEM began e-PV sales in India.
Hyundai Motor India, which entered the e-PV industry with the now-discontinued Kona EV in CY2019, sold 437 units over two years. From CY2020 through to early September 2025, the Korean carmaker which currently sells the Ioniq 5 and the Creta Electric, has sold 8,604 units and has a 2.5% share.
The launch of the Creta Electric in January 2025 has helped the company drive ahead of BYD India in monthly sales but consumer response to the zero-emission avatar of India’s best-selling midsize SUV has been tepid.
PCA Automobiles India, which sells the e-C3, has sold a total of 4,535 units since CY2023. Annual sales though have been on the decline YoY – from CY2023’s 1,949 units to 1,875 in CY2024 and to 711 units in CY2025 YTD.
Four years into the EV market and 1,906 units, Kia India is ranked ninth on the 14-OEM scale. Its first two products – the EV6 and EV 9 – are CBUs imports and bear a stiff price-tag. The company has finally seen strong monthly numbers with the recent launch of the Carens Clavis EV. August 2025 sales (441 units) Carens Clavis EV-MPV also mark the first time that Kia India has clocked three-figure retails of EVs in a single month and are its highest yet.
In tandem with the growth in the mass-market electric passenger vehicle industry, the luxury EV segment too has witnessed a strong growth trajectory. The seven OEMs in this segment – four of them German carmakers – have cumulatively sold 9,371 zero-emission passenger cars and SUVs, which gives them a 2.69% share of the overall e-PV market retail sales of 344,996 units over the past four years and eight months.
BMW India has been the market leader for the luxury e-PV segment in each of the past four years. Sales have risen from 163 units in CY2021 to 1,308 units in CY2022, 1,228 units in CY2024 and are now 1,986 units in the first eight-odd months of CY2025 for a 62% share. Cumulative retails of 4,685 units give it a 1.35% share of the overall e-PV market since CY2020 and a 50% share of the luxury e-PV market for the five-year period.
Mercedes-Benz India, which will also achieve its best-ever annual sales this year, has clocked cumulative sales of 2,484 units in the five-year period under review. This gives it a 27% share of the luxury e-PV market. In this year to date, it has a 26% market share.
Volvo Auto India, which entered the zero-emission market four years ago, is ranked third on the luxury e-PV scale with 1,327 units. Its highest annual sales to date have come in CY2023 (571 units). Demand fell 21% YoY to 450 EVs in CY2024 and are currently at 271 units in the January-early September 2025 period.
Audi India, the third German EV maker, has sold a total of 493 EVs between CY2020 and CY2025 YTD. Sales rose strongly YoY from CY2020 to CY2023 but CY2024 (145 units) were an addition of only three more EVs. In this year to date, Audi has sold 47 EVs as per Vahan data.
Porsche has sold 265 zero-emission cars and SUVs to date in India. Its best performance came in CY2023 when it delivered 96 EVs to customers.
JLR, which is ranked 13th on the 14 EV OEM scale, has chalked up sale of 84 units since CY2020. It is followed by Rolls-Royce with 33 units, comprising one EV in CY2023 and 16 each in CY2024 and CY2025 YTD.
Despite a good number of ICE cars and SUVs becoming substantially cheaper as a result of the revised GST rates and their price gap to EVs reducing, the allure of zero-emission and wallet-friendlier four-wheeled EVs remains strong.
While there was some buzz about GST being hiked on EVs, the 5% taxation rate has been retained in line with the government’s strategic mission of promoting electric mobility. While this will continue to draw buyers to mass-market e-PVs, it will bring cheer to luxury EV OEMs who had feared a hike.
Compared to the overall PV industry, which sees an EV penetration level of around 2.5 to 3%, the luxury PV segment has a much higher EV penetration level – it is currently 11% (3,193 EVs out of 28,952 luxury cars and SUVs sold in India between January and September 7, 2025) for the seven players.
Things for getting better in the EV world. . . across segments. Today’s EVs are better than those even a year ago, they are better to drive and better on cost, particularly with the Battery as a Service (BaaS) option which enables buyers to pay only for the EV excluding the battery which is available on a rental basis.
Nevertheless, some challenges remain in the form of range anxiety, lack of a mature charging infrastructure, teething software issues, and relatively low resale value of EVs compared to their similarly-priced ICE counterparts, all of which continue to inhibit EV adoption in India.
Furthermore, the fast-paced evolution in EV technology is making the product lifecycles significantly shorter, thus impacting the longevity of new models by casting a risk of quick obsolescence. However, with their highly-efficient powertrains that eliminate tailpipe emissions at the source, EVs offer strong promise toward ensuring clean and green cities of the future.
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