India's electric vehicle market has hit an inflection point. Sales of battery electric vehicles tripled to 1.2 million units in fiscal year 2025-26, giving EVs a 12 percent share of the new car market — up from 4 percent just two years ago. The growth trajectory mirrors China's EV adoption curve from 2019-2021.
Market Leaders
Tata Motors continues to dominate the Indian EV market with a 42 percent share, led by the popular Nexon EV and the new Curvv EV. Hyundai-Kia holds second position at 18 percent following the success of the Creta Electric. China's BYD has emerged as the surprise story, capturing 12 percent of the market with its aggressively priced Atto 3 and Seal models.
Maruti Suzuki, India's largest carmaker, entered the EV market in January with the eVX, which has received over 50,000 bookings in three months despite a higher price point.
Charging Infrastructure
- Public charging stations: 95,000 (up from 12,000 in FY24)
- Highway fast-chargers: 8,500 across national highways
- Average charging time for 80% battery: 35 minutes on fast chargers
- Government target: 200,000 charging stations by 2028
"India is approaching the tipping point where EV adoption becomes self-sustaining. When total cost of ownership is lower than ICE vehicles — which it now is for most segments — the transition accelerates rapidly," said Shailesh Chandra, MD of Tata Motors Passenger Vehicles.
Battery costs have fallen 30 percent in two years, and the government's FAME III subsidy scheme continues to incentivize adoption. Analysts project EVs could reach 25 percent market penetration by 2028.
