How Tata Motors went from 73% to 40% of India's EV market while still leading it

Tata Motors is still India's largest electric-car maker, but its share is falling fast. In calendar 2025 it retailed a record 69,955 electric passenger vehicles, up 13%, yet its share of the market fell to 40% from 62% in 2024 and 73% in 2023, as the whole segment grew 77% to 176,538 units (Vahan data via Autocar Professional, 2 January 2026). JSW MG Motor and Mahindra took most of the difference. India's EV story is no longer "is Tata winning", it is "how fast is the lead narrowing".

India electric passenger-vehicle retail by brand, 2023 to 2025

Brand	2023 share	2024 share	2025 share	2025 units
Tata Motors	73%	62%	40%	69,955
JSW MG Motor	11%	22%	29%	51,376
Mahindra	5%	7%	19%	33,512
Hyundai	2%	0.91%	4%	6,726
BYD India	2.43%	2.84%	3%	5,402
Total market		99,693 units	176,538 units	+77%

Shares as published by Autocar Professional from Vahan registration data.

Why Tata had the lead in the first place

Three structural advantages from 2020 to 2023:

1. Price. The Nexon EV, launched in January 2020, was priced below ₹15 lakh, within reach of upper-middle-class urban buyers, when the other EVs on sale in India were considerably more expensive.
2. Existing dealer network. Tata sold its EVs through the same sales and service network as its petrol and diesel cars, which gave buyers confidence about after-sales support beyond the big cities.
3. Familiar nameplates. The Nexon EV, Tiago EV and Punch EV are electric versions of cars Indian buyers already knew, which lowered the barrier to trying an EV.

Why the lead is narrowing

Competitors arrived with products buyers wanted. JSW MG grew 136% in 2025, led by the Windsor EV and its battery-as-a-service option. Mahindra grew 369% on its born-electric BE 6 and XEV 9e SUVs. Hyundai launched the Creta Electric in January 2025 and rose to fourth. Vinfast and Tesla also entered India's electric passenger-vehicle market in 2025.

Where it stands now

Tata has added the Harrier EV, which Autocar Professional says helped revive demand, while the Curvv has yet to gain traction. Maruti Suzuki, India's largest carmaker, has its first BEV in the e Vitara. Electric cars are still a small part of the market: 176,538 units is about 3.9% of FADA's 4,475,309 passenger-vehicle retail total for 2025, so the contest for share is happening in a segment that is still early in its growth.

Source & methodology

Brand units and shares are Vahan registration-based retail data compiled by Autocar Professional for calendar 2023, 2024 and 2025. The total passenger-vehicle market is FADA's 2025 retail figure (Business Today). Live brand share and monthly trend on the India dashboard.