India’s EV Car Market Powers Ahead in 2024 — But the Real Disruption Begins in 2025

• Tata Motors remains the dominant player, but MG’s platform-first approach is rapidly gaining ground.

• Mahindra is poised for a strategic comeback in 2025 with its premium EV SUV play.

• EV safety ratings will increasingly shape brand equity and consumer trust.

• The EV tipping point will depend not on tech alone, but on price, performance, and policy precision.

India’s electric vehicle (EV) market has entered a crucial inflection point. In 2024, battery electric vehicle (BEV) passenger car sales surged past 106,000 units — a robust 19% year-over-year growth — yet still accounted for just 2.5% of total passenger vehicle volumes. The figure underscores a paradox: the sector is both booming and barely scratching the surface.

Tata’s Lead Shrinks, But Not Its Ambition

Tata Motors retained pole position, commanding 62% of India’s EV car market, though its dominance slipped from earlier highs. A volume drop of 12% in a growing market reflects the intensifying competition, particularly in the sub-₹15 lakh EV segment.

Still, Tata’s newly launched Punch EV emerged as India’s best-selling electric car in 2024. The firm’s broader roadmap — which includes the upcoming Curvv EV and Harrier EV — aims to secure dominance across form factors.

“We’re moving from early adopters to mainstream intent. The next leap will depend on how quickly OEMs bring down battery costs and scale Tier-2 accessibility,” - Priya Menon, Mobility Analyst at Axis Research.

The Road Ahead: EV 2.0 Begins Now

The 2025 Auto Expo made one thing clear — India’s EV market is preparing for its second act. Multiple upcoming models, particularly in the ₹15–30 lakh SUV segment, will aim to blend aspiration with practicality. Hyundai, BYD, Maruti Suzuki, and even Tesla (via component sourcing) are preparing for deeper moves into the market.

Simultaneously, charging infrastructure is scaling, driven by players like Tata Power, Ather Grid, and ChargeZone. Government incentives, state-level subsidies, and the upcoming PLI 2.0 scheme for battery manufacturing are expected to close key supply-chain gaps.