Who is the leader in EV market in India | Explore Growth & Global Trends 2025

Who is the leader in EV market in India?

This phenomenal growth is primarily driven by intensifying efforts to cut carbon emissions, generous government subsidies, and stricter fuel economy regulations pushing automakers toward electrified fleets. Advances in battery technology, including faster charging and extended driving ranges, are addressing range anxiety and making EVs more attractive to mainstream consumers.

Additionally, the expansion of charging infrastructure and the falling cost of lithium-ion batteries are accelerating mass adoption. Automakers are launching new models across various price segments, and consumers are increasingly prioritizing sustainability, all of which are set to sustain the upward momentum of the EV market through 2031.

List of leader in EV market in India

1. Ola Electric

Ola Electric is one of India's top electric two-wheeler companies. Its scooters like the S1 Pro are widely popular, and the company is building a large EV hub for batteries, scooters, and cars.

2. Ather Energy

Ather Energy designs and manufactures premium electric scooters like the Ather 450 series. It is known for its in-house tech, connected features, and dedicated charging network called Ather Grid.

3. Hero Electric

Hero Electric is one of India’s earliest and most widely recognized electric scooter manufacturers. It offers a range of affordable models and focuses on rural and semi-urban mobility.

4. BYD India

A subsidiary of Chinese EV giant BYD, the company produces electric buses and cars in India. It has made a strong entry into India’s premium EV market with models like the BYD Atto 3 and e6.

5. MG Motor India

MG Motor has made significant inroads into the Indian EV space with the ZS EV and Comet EV. It combines global EV tech with localization strategies for Indian buyers.

6. Ashok Leyland (Switch Mobility)

Switch Mobility, a subsidiary of Ashok Leyland, focuses on electric buses and commercial EVs. It is working on both domestic and export-focused EV platforms for mass and public transportation.

7. Mahindra Electric

A pioneer in India's EV journey, Mahindra Electric focuses on electric three-wheelers and commercial vehicles, with models like Treo and eVerito and upcoming high-performance SUVs under the XUV brand.

8. Bounce Infinity

Bounce Infinity offers electric scooters with unique battery-swapping technology. The company targets urban users and fleet operators with its Infinity E1 model and expanding swap station network.

9. Tata Motors

Tata Motors is India’s largest EV manufacturer with a strong lineup including the Nexon EV, Tiago EV, and Punch EV. It leads the passenger EV segment and invests heavily in battery tech and charging infrastructure.

10. TVS Motor Company

TVS entered the EV space with the iQube scooter and has been rapidly expanding its presence. It combines decades of experience with new-age battery and smart vehicle technologies.

Frequently Asked Questions About the Market Study (FAQs):