EV Market Shift: China-Backed Brands Gain a Third of Their Market Share; Tata-Mahindra retains leadership – The Times of India

Chinese-owned automakers are emerging as major players in India’s electric passenger car segment, challenging longtime leaders Tata Motors and Mahindra & Mahindra. In less than two years, brands like BYD, MG Motor and Volvo – all backed by Chinese companies – have overtaken several Korean and German rivals to now account for almost a third of the Indian EV market. According to ET, these companies have attracted buyers with advanced technology, better range and greater reliability.Their rise comes at a time when more Chinese EV makers, including Xpeng, Great Wall and Haima, are exploring the Indian market. These efforts could benefit from the slight improvement in India-China relations after nearly five years of tension. Industry experts quoted by ET said China-linked companies have expanded consumer choice and brought faster upgrades in battery technology, premium features and model sales.MG Motor was the first to build scale in India and offer mass market electric cars at competitive prices. “Our growth momentum in India is driven by exceptional customer-centric innovations and a deep understanding of local market needs,” said Vinay Raina, Chief Commercial Officer at JSW MG Motor India, according to ET. He emphasized that localization remains crucial to remain competitive.BYD, one of the largest EV manufacturers in the world, has been steadily expanding by capitalizing on commercial and fleet demand. Volvo Cars – Swedish in brand identity but owned by China’s Geely – has also secured a consistent presence in the premium segment. “Our growth in India is driven by a strong and loyal customer base and our accelerated focus on electrification,” said Jyoti Malhotra, MD of Volvo Car India, adding that the company plans to introduce one new EV per year and now assembles all its models locally.According to data from Jato Dynamics cited by ET, Chinese-origin brands did not sell a single battery electric vehicle in India in 2019. By October this year, they had delivered 57,260 electric vehicles, capturing 33% of the market. However, Indian-owned companies continue to lead overall, with BEV sales rising to 1,01,724 units this year through October, compared to 74,442 in 2024. Jato Dynamics president Ravi Bhatia was quoted by ET as saying that localization, affordability, greater reach and alignment with schemes like FAME-II and PLI have helped domestic companies maintain their lead.