Company becomes second four-wheeler EV manufacturer to cross the 35% market share threshold.
03 Nov 2025 | 3652 Views | By Shruti Shiraguppi
JSW MG Motor India crossed the 100,000 electric vehicle sales mark, becoming the second four-wheeler EV manufacturer to achieve this mark in India, as the company's market share expanded to 35% from 26% in calendar year 2024.
India's EV market is experiencing rapid growth, with passenger EV sales surging ...
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JSW MG Motor India crossed the 100,000 electric vehicle sales mark, becoming the second four-wheeler EV manufacturer to achieve this mark in India, as the company's market share expanded to 35% from 26% in calendar year 2024.
India's EV market is experiencing rapid growth, with passenger EV sales surging 75% year-on-year in the first quarter of fiscal year 2026, raising market penetration to 3.5% from 2% a year earlier. The country currently accounts for about 2.5% of all cars sold being electric vehicles in 2024, with the government targeting 30% EV share by 2030.
MG EVs maintain robust segment-wise performance, contributing over 70% to the company's overall month-on-month sales. The milestone is driven by the performance of the company's EV portfolio, which includes models catering to varied customer demands from everyday city needs to premium offerings.
Anurag Mehrotra, Managing Director of JSW MG Motor India said, "Crossing the 100,000 EV sales milestone reflects the trust Indian customers place in sustainable choices. I thank our customers and the entire JSW MG Motor India team for this momentous milestone. As mobility evolves, we remain committed to driving India's vision of innovative and clean mobility solutions."
In the broader four-wheeler passenger EV segment, Tata Motors maintains a leading position, while MG Motor increased its market share to 25% in 2024, up from 13% the previous year. The passenger segment grew by 53% year-on-year, with EV penetration reaching nearly 56% in fiscal year 2024.
The company has launched several ecosystem-based initiatives to support EV adoption. These include the EV Sahi Hai public awareness campaign promoting EV adoption through real user experiences, ehub by MG app as a charging needs platform, Battery-as-a-Service to simplify ownership, MG Charge targeting 1,000 chargers in 1,000 days, and Project Revive focused on battery recycling and repurposing.
India's EV sector growth is supported by government policies including the PM E-Drive Scheme, which replaced the FAME II scheme in September 2024. The FAME policy supported 1,321,800 electric vehicles with subsidies totaling ₹115 billion before ending on March 31, 2024. The PM E-Drive Scheme has allocated ₹109 billion to accelerate EV adoption, with ₹36.79 billion in incentives for battery-powered two-wheelers, three-wheelers, ambulances, trucks, and other advanced EVs.
As of July 2025, India's EV charging network has expanded nearly fivefold from fiscal year 2022 to early fiscal year 2025, with public charging stations rising from 5,151 in 2022 to 26,367 by early fiscal year 2025.
The India electric vehicle market size was valued at $8.49 billion in 2024 and is projected to grow at a compound annual growth rate of 40.7% from 2025 to 2030. Government estimates suggest annual EV sales could reach 17 million units by 2030, with overall EV penetration expected to grow eightfold from current levels.
JSW MG Motor India is a joint venture formed in 2023 between SAIC Motor, a global Fortune 500 company, and JSW Group, India's leading conglomerate. The joint venture aims to build a smart and sustainable automotive ecosystem while developing a diverse portfolio of vehicles. The company operates a manufacturing facility in Halol, Gujarat, with an annual production capacity exceeding 100,000 vehicles.