India’s electric car market witnessed significant growth in 2024, with a record-breaking 99,004 units sold, marking a 20% increase compared to 2023’s 82,563 units, according to data from the government’s Vahan portal.
Tata Motors, which has been a dominant player in the country’s electric vehicle (EV) market, saw its market share decline from 73% in 2023 to 62% in 2024. Despite this drop, the company sold 61,435 electric cars, up by just 2% from 60,007 units in the previous year. Tata Motors offers the widest EV portfolio in India, including models such as the Tiago.ev, Tigor.ev, Nexon.ev, Punch.ev, and the Curvv.ev. The company plans to expand further with the launch of the Harrier.ev and Sierra.ev in the coming months.
JSW MG Motor, a joint venture between India’s JSW Group and China’s SAIC, recorded a remarkable 125% sales growth in 2024, selling 21,464 electric cars. The company’s growth was largely driven by the launch of the Windsor EV in September. MG also sells the ZS EV and Comet EV in India, both contributing to its success in the electric car sector.
Mahindra & Mahindra, in third place, saw its electric car sales rise by 66%, with 7,104 units sold, up from 4,269 units in 2023. The company plans to further expand its EV lineup, with the launch of the XUV 3XO EV, BE 6, and XEV 9e, the latter generating considerable anticipation in the market.
China’s BYD, operating independently in India, ranked fourth with 2,819 units sold, a 40% increase over 2023. Despite selling models like the Atto 3 compact SUV and eMax 7, BYD’s cars remain expensive for most Indian consumers. The company also imports the Seal sedan, which is priced out of reach for the majority of buyers.
French automaker Citroen recorded a slight decline in sales, with 1,873 units of the e-C3 sold in 2024, a 4% year-over-year drop. However, Citroen plans to launch a fully electric variant of the C3 Aircross later this year.
Meanwhile, Hyundai and Kia, alongside luxury brands like BMW and Mercedes-Benz, sold electric vehicles in small numbers due to the high price points of their current offerings. Both South Korean automakers are expected to increase their presence in the market with the launch of mass-market models such as the Creta Electric and the Carens EV, while Maruti Suzuki plans to enter the electric vehicle space with its locally manufactured e-Vitara this year.
With more affordable and locally manufactured electric cars set to debut in 2025, India’s electric car sales are likely to continue growing, potentially breaking new records once again.
Source: autocarpro.in, parivahan.gov.in
