Carmakers in India plan EV onslaught in 2025 despite slowing global demand

Automakers in India are set to launch nearly a dozen new electric vehicle (EV) models in 2025, many targeting the premium segment with improved driving ranges and faster charging times to combat slowing global demand for EVs. These new models will be showcased at India's five-day auto show in New Delhi, where participants such as Maruti Suzuki, Mahindra & Mahindra, and global brands like BYD, Toyota, and Hyundai will display their offerings. Tata Motors and JSW-MG Motor, key players in the Indian EV market, will present expanded line-ups as India prepares for tighter emission regulations starting in 2027. India’s EV market currently accounts for about 2.5% of total car sales, but the government aims to increase this to 30% by 2030. Despite global EV sales growth slowing to 13% in 2024, India’s EV sales rose 20% to about 100,000 units, outpacing overall car market growth of 5%.

To address consumer concerns over limited range, many new models will feature ranges starting at 400 km, with some, like Mahindra’s upcoming electric SUVs, offering more than 600 km and fast charging from 20% to 80% in under 20 minutes. Mahindra’s new models are priced between Rs. 19,04,890.90 (US$ 22,000) and Rs. 30,30,508.25 (US$ 35,000), compared to the average car price of Rs. 10,39,031.40 (US$ 12,000) in India. The new entrant VinFast, building a factory in southern India, will showcase its electric vehicles, including the VF3 mini-SUV and VF9 three-row MPV. Hyundai will display the electric version of its popular Creta SUV. At the same time, Maruti will unveil its first electric SUV, the e-Vita. Other clean fuel technologies, including plug-in hybrid cars, hydrogen fuel cell vehicles, and gas-based cars, will also be showcased at the event.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.