EV news
Electric vehicle registrations surge 17% to nearly 2 million
Electric vehicle (EV) registrations in the country have seen a significant surge, with total registrations crossing the nearly 1.97 million (1,966,025) mark in the financial year, a YoY increase of 17% over the 1.68 million (1,682,312) units recorded the previous financial year. This trend demonstrates the ongoing momentum for EV adoption nationwide, with the two-wheeler and three-wheeler categories remaining the most active segments in this transition.
Out of all EV categories, electric two-wheelers lead the charge in switching to sustainable mobility even this year. 1.15 million of these registrations were delivered to this segment, growing by strong 21% y/y. The EV two-wheeler segment now makes up of over 6% of the total two-wheeler market-share in India. Several previous reasons accounted for this surge, from affordable models to growing consumer awareness and aggressive competition between legacy and new-age manufacturers.
Manufacturers like Bajaj Auto, TVS Motor Company, and Hero MotoCorp stepped up efforts in the electric two-wheeler space, introducing new models and investing in faster production capabilities to meet the growing demand. Their efforts, along with the price of petrol and environmentalism, have boosted the appeal of electric scooters and motorcycles for daily commuters and city riders.
Electrics cars and SUVs, which make up the passenger vehicle segment, were also high flyers. More than 100,000 electric passenger vehicles were registered during the financial year, up 18.2% on the previous year. While EVs made up only roughly 3% of the total passenger vehicle market at the time, the segment is growing steadily, with many manufacturers jumping into the fray.
After strong sales numbers in previous months, Tata Motors kept its lead in the EV passenger vehicles segment as the brand scored a massive market share in October 2023. JSW MG Motor India came in at number two with Hyundai and Mahindra & Mahindra entering the fray in the EV space with new electric car offerings over the course of the year. Several other carmakers are also gearing up to enter the EV space soon — these include Maruti Suzuki, Toyota, Renault, Volkswagen, Honda, Skoda and Nissan. Their inclusion will only expand the region of the EV landscape and help make electric cars available to more consumers.
Electric three-wheelers, on the other hand, witnessed around 700,000 units of registrations in the 2022-23 fiscal year, which meant a year-on-year growth of 11 percent. This means that 57.42% of total registered three-wheelers in India are now EVs, thus making it the most electrified segment of India’s transport ecosystem. They are particularly popular with small business owners and last-mile delivery operators, who favour electric rickshaws and cargo vehicles for their lower operating costs coupled with greater availability.
Few would have imagined that four years later, it would be the case, with even two-wheeler sales doing some serious heavy lifting to achieve this impressive growth — not that it is all down to the Indian government’s response to the high prices of fuel and crude oil. Recent policy intervention like the Electric Mobility Promotion Scheme (EMPS), the subsequent PM EDRIVE and PM e-Sewa initiatives were vital in driving the EV adoption according to the Society of Indian Automobile Manufacturers (SIAM). These policies aim to stimulate the domestic EV industry with benefits, subsidies, and infrastructure development, which lower the net cost of ownership and encourage the large-scale adoption of electric vehicles.
As the market matures, the transition towards electrification in India is likely to further accelerate. Automakers are then adapting their strategies to match that trend, pouring money into new technologies, stretching out their EV portfolios. The EV ecosystem is being fortified in parallel with battery manufacturing, charging infrastructure, and recycling solutions.
The way consumers are also changing, with a lot of them realizing that electric mobility is a long term proposition. EVs have also become an attractive individual and commercial alternative to other vehicles, offering better driving ranges, faster charging times, and lower maintenance costs than before.
Though hampered by certain drawbacks, such as the scarcity of charging stations and the higher costs of acquisition, the electric vehicle segment in India appears to be maturing. Thanks to stable policy support, increasing competition, and greater awareness, EVs are slowly but surely transitioning from niche to mainstream.
This increase in EV registrations sends a strong message and reinforces the fact that India is on the right path towards achieving its green mobility targets. The way forward entails continued coordination between the government, the private sector, and consumers to develop a strong and sustainable electric mobility ecosystem that addresses the nation’s environmental, economic, and energy security goals.
Article By
Sourabh Gupta
A Bold Step Into India’s Luxury EV Market
So, MG is about to bring out something pretty cool — the Cyberster, a premium electric SUV, expected to launch around July 2025. It’s their way of stepping up in India’s electric vehicle game and offering something that’s not just green, but also stylish and packed with tech.
EVs are getting popular here, and MG wants to be part of that wave, especially for folks who want a good-looking, comfy ride that’s loaded with modern features.
Striking Design Meets Cutting-Edge Technology
We don’t have all the info yet, but the Cyberster looks sharp. Think sleek and sporty, something that’ll catch eyes on the road.
Inside, expect lots of screens, smart features, and safety tech — basically, everything you’d want to make your drive smooth and fun. Whether it’s a quick city run or a weekend escape, this car’s aiming to make every trip enjoyable.
Performance That Packs a Punch
If you’re paying for a premium electric SUV, you want it to perform, right? While details are still under wraps, MG usually doesn’t disappoint. Expect a good driving range and enough power to make driving fun.
And with fast charging, you won’t be stuck waiting around forever — a big plus for busy folks.
What the Cyberster Means for Indian Consumers
This car means more choice for buyers who want a premium EV. The market is heating up, and it’s great because it gives you options that fit your style and budget.
MG is known for giving good value, so this might be a premium ride without the crazy premium price tag.
Growing Competition: A Win for Buyers
More companies entering the EV space means the competition’s getting fierce — Tata, Mahindra, Hyundai, and now MG all want your attention.
That means better cars, better prices, and more charging stations popping up, making EVs easier to own.
MG’s Vision for India’s EV Future
The Cyberster is just the start for MG. They’re clearly aiming to be a big player in India’s EV scene by giving buyers stylish, tech-packed cars.
As India moves toward greener transport, cars like this will help make electric vehicles the new normal.
Article By
Sourabh Gupta
The Electric Vehicle Battle Is Just Getting Started
You know how things are changing fast with electric vehicles here in India? Well, it’s no longer just a couple of companies in the game. Tata and Mahindra have been leading for a while, but now Maruti, Toyota, and Hyundai are jumping in too. It’s turning into a proper race, and that’s great news for anyone thinking about buying an EV.
More players mean more choices, and when companies compete, it usually means better deals and cooler cars for us.
New Entrants Bring Fresh Energy
Maruti Suzuki is like the go-to brand for most Indian families because their cars are affordable and reliable. Now, if they start selling EVs, it’s going to make electric vehicles a lot more reachable for everyday folks.
Then you have Toyota and Hyundai, which have been working on electric cars globally for years. They’re bringing that know-how to India, which means better technology and cars designed to handle our roads and conditions.
This fresh blood is going to push everyone to do better, which is a win for all of us.
What This Means for Consumers
For buyers, this is the best time to consider an EV. You’ll get a wider choice of vehicles — from simple and affordable models to fancy ones packed with features.
Also, with so many companies competing, expect better batteries that last longer, faster charging times, and prices that won’t scare you away.
Charging stations will become more common, making it easier to own and use an EV without stress.
Challenges for Established Players
Tata and Mahindra have done well so far, but now the heat’s on. They’ll need to keep improving their cars and customer service to stay ahead.
More competition means prices might get friendlier, and cars will keep getting better, which is good news for everyone.
The Road Ahead: A Win for India’s Green Future
All this competition will speed up EV adoption, which means cleaner air and less pollution.
With more companies investing in EVs, we’ll see more charging points, better batteries, and more jobs related to green technology.
The future looks electric, and it’s shaping up to be an exciting ride.
Article By
Sourabh Gupta
A Bold Ambition in a Growing Industry
Tata Motors isn’t just aiming to be in the EV race — they want to lead it. A recent ET Auto report says Tata wants to grab half of India’s electric vehicle market, which is a pretty big deal.
India’s EV scene is growing fast. More people are thinking about electric cars because petrol prices keep climbing, and folks want cleaner air. With all this happening, Tata’s shooting for the top spot, wanting to hold a massive share of the market.
Where Tata Motors Stands Today
Right now, Tata is the go-to name when it comes to EVs in India. The Nexon EV is one of the best-selling electric SUVs in the country. They’ve also got other models like the Tiago EV and Tigor EV that cover different budgets and needs.
But Tata knows it can’t just sit back and relax. Other brands like Mahindra, MG, and Hyundai are also pushing hard. Tata’s got to keep coming up with new stuff and get better if they want to stay ahead.
How Tata Plans to Achieve Its 50% Goal
So, how do they plan to take over half the market? They’ve got a few things lined up:
Expanding Its EV Lineup
Tata’s working on some cool new electric cars like the Harrier EV, Curvv EV, and the fancy Avinya. These options will give customers more choices, whether they prefer something small and practical or large and luxurious.
Building More Charging Stations
One of the biggest worries about EVs is charging. Tata’s working with Tata Power to set up more chargers across cities and towns. The easier it is to charge, the more people will want to buy EVs.
Making Batteries in India
Batteries are the priciest part of EVs, and importing them adds to the cost. Tata wants to make batteries right here in India, which should help bring prices down.
Going After Fleets and Government Buyers
Tata’s not just focusing on people buying cars for themselves. They’re also selling EVs to taxis, delivery companies, and government fleets. That’s a smart move because these buyers buy in bulk.
Challenges Ahead
It won’t be a smooth ride, though. Tata still has some bumps to cross:
- Battery supply might not always keep up with demand.
- Other companies are catching up fast.
- Not all towns have enough charging points yet.
- Convincing people outside cities to switch to EVs takes time.
The Road Ahead
Tata wants to own half of India’s EV market, and while that’s a huge goal, they have the right plan and the brand to pull it off. For buyers, this means better cars and more choices soon. For India, it’s a cleaner, greener future.
Article By
Sourabh Gupta
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