Homegrown carmaker Mahindra & Mahindra (M&M) overtook JSW MG Motor India to become the second-largest electric vehicle (EV) maker by volume in March.
M&M sold 4,794 EVs in March, accounting for around 25% of the EV market share, according to VAHAN data. This eclipses the 4,573 EVs sold by JSW MG Motor India, the joint venture between China’s SAIC Motor and JSW Group.
Although Tata Motors has maintained its grip on the top spot in the EV market with its wide range of models across segments, Mahindra & Mahindra is steadily closing the gap, even with a portfolio largely focused on premium electric vehicles. According to VAHAN data, Tata Motors recorded sales of 7,079 EVs in March, which works out to a market share of 36%.
However, EVs still make up less than 4% of India’s total car sales.
Maruti Suzuki India Ltd, the country’s largest automaker, ranked fourth among EV makers in March, surpassed Vietnam’s VinFast as well as South Korean brands Hyundai and Kia. The company, which recently launched its first EV, the e-Vitara, reported sales of 779 EVs.
Meanwhile, VinFast, which has rapidly expanded its retail presence across India, sold 627 EVs in March, making it the fifth-largest EV seller by volume. The company currently offers the VF 6 and VF 7 electric SUVs and operates 50 showrooms nationwide.
Kia India recorded sales 431 EVs, while its sister brand, Hyundai Motor India 416 297 EVs as in March, occupying the sixth and seventh ranks, respectively.
China’s BYD, which imports its EVs from the neighbouring country after its investment plan was rejected by the government, managed to sell just 392 EVs as of March 26.
German luxury carmaker BMW Group India clocked 395 EV sales in March while its rival Mercedes-Benz sold 87 electric cars.
Elon Musk-led Tesla was out of the top 10 EV makers in India. It sold only 47 EVs in March.
