Key Points
In Indias fledgling electric vehicle market on expectations that a government push towards ecofriendly mobility and greater consumer awareness will further accelerate sales...
Domestic electric passenger vehicle sales have picked up pace, with the number of mass-market models growing threefold to a dozen by seven companies in 2023, from just four models by three manufacturers prior to the pandemic, according to data collated by automotive market research firm Jato Dynamics...
Tata Motors dominates the local EV market with its Tiago, Nexon, Tigor and Punch, followed by MG Motor India and Mahindra & Mahindra..
BYD, the world's number one electric vehicle maker, launched the Seal sedan earlier this week the third model in its portfolio after the e6 multipurpose vehicle and Atto 3 SUV.. . BYD sold 2,658 vehicles in India in 2023, recording a more than threefold rise from the previous year..
Strong growth in electric volumes is being triggered by government incentives to support both EV manufacturing and charging infrastructure, falling battery prices and increasing consumer awareness..
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Indians’ electric love to power EV sales to a record
24, Mar, 24The sales surge would be propelled by falling battery prices and resultant product price cuts by some automakers, robust government support for eco-friendly vehicles, higher prices of fossil fuels and growing environmental awareness among consumers. Launch of new models by automakers is also helping attract new buyers into this segment. This years sales performance would mark a 67% jump from the 60,910 electric PVs sold in FY23.
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21, May, 23Tata Motors currently leads the pack with about 80,000 electric cars sold, followed by MG Motor India at over 10,000, another 2,000 by luxury players.
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27, Mar, 24India's policy aims to attract Tesla for local manufacturing, creating competition with Tata Motors in the luxury car segment. The market sees potential growth with key players like Tata, MG, and Mahindra in the EV sector.
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06, Mar, 24China's BYD, a leading electric car manufacturer globally, aims to solidify its position in India's luxury electric vehicle segment, focusing on cars priced above Rs 30 lakh. Despite recent challenges due to increased government scrutiny of investments from China, BYD is committed to showcasing its technology and expanding its footprint in India's premium electric vehicle market.
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26, Apr, 23MG Motor, owned by China's SAIC Motor , on Wednesday launched the lowest-priced electric car in India, as it seeks to take on local rivals like Tata Motors in the world's third-largest car market.
Chinese firm BYD plans to cover 90% of EV market in India this year
05, Mar, 24BYD, a Chinese EV manufacturer, aims to dominate 90% of India's EV market by year-end, focusing on the Rs 30 lakh-plus segment. They launched the SEAL sedan and are seeking ARAI homologation for their Atto 3 SUV to lift import restrictions. Despite a setback with plans for a manufacturing plant, BYD plans to comply with regulations and expand based on market demand.
Tata Motors lands the right ‘Punch’ with their new electric car. It’s superior to Nexon EV
28, Jan, 24Tata Punch EV, with the larger battery and more powerful motor, is an excellent value proposition for those seeking a comfortable ride.
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21, Dec, 23Unlike rivals which introduced new models in last two years that drove sales, Tata Motors relied on introduction of new powertrains like CNG and electric, and special edition models. The Punch small SUV, launched in August 2021, was the last brand to be added to PV portfolio. Even mid-cycle model refreshes kicked in only at the fag end of the year with the facelifts of the Nexon, Nexon.ev, Harrier and Safari. The new Nexon and Nexon.ev, launched recently have got combined bookings in excess of 100,000 units - 85,000 for the fossil fuel version and rest for the electrified one, said Chandra.
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