Electric Car Sales to Hit High Gear With More Models Hitting Market
The EV market in the country has entered a new phase of speed, with industry reports projecting over 1.38 lakh electric cars to be sold in 2025, that is nearly double numbers compared to 2023.
Pune: Two automakers JSW MG Motor and Kia are all set to accelerate the sale of electric cars in the world’s third largest car market.
While MG M9, the electric luxury multipurpose vehicle or MPV is priced at Rs 69.90 lakh, Kia too announced the price of its 7-seater electric vehicle, the Carens EV, at Rs 17.99 lakh at pan India showroom, both on Monday.
The EV market in the country has entered a new phase of speed, with industry reports projecting over 1.38 lakh electric cars to be sold in 2025, that is nearly double numbers compared to 2023.
This sales speed is driven by affordable models, better infrastructure, and growing awareness of long-term savings.
Electric cars accounted for 2 per cent of all new car sales in India last year, with sales crossing 100,000 electric cars, as per data from FADA.
During the first quarter of 2025, India's EV sales increased by 45 per cent year-over-year to approximately 35,000 units, and growing.
JSW MG Motor plans to open 14 MG Select premium showrooms by the end of September, out of which 10 are already live, across 13 metros and cities, through which it will also sell MG Cyberster, an all-electric sports car, with an estimated price of Rs 70 lakh upward.
“With more manufacturers and models being launched in the EV segment, the overall Total Industrial Volume (TIV) has expanded for EV,” a spokesperson from JSW MG Motor India told FC.
From the last CY average of 2.6 per cent TIV contribution, the current CY EV contribution has hit as high as 4.9 per cent of overall passenger vehicle TIV, he pointed out.
This clearly indicates an expanding base of EV customers and increasing adoption, the spokesperson said, adding that post MG Windsor launch from Oct 2024 to June 2025 its market share has jumped to almost 35 per cent.
Billionaire Elon Musk-led electric vehicle maker Tesla, which opened shop in Mumbai last week with its Model Y SUV, the world’s top selling electric car, priced at Rs 59.89 lakh, will also open a second showroom in the National Capital Region shortly.
Vinfast, the Vietnamese automaker, is also planning to launch two new electric SUVS, the VF6 and VF7, in India this year.
Electric cars from Maruti Suzuki (e-Vitara), Mahindra BE.07, and Tata Motors Sierra SUV and other brands are also set to splash in the growing EV market in the country.
The M9 luxury limousine, whose delivery will start from August 10, sits between the Kia Carnival (Rs 63.90 lakh) and Toyota Vellfire (Rs 1.22 crore) luxury MPVs, albeit with an all-electric powertrain.