As the world shifts towards sustainable transportation, India is at the forefront of the electric vehicle (EV) revolution. With a growing population and increasing urbanization, the demand for cleaner, more efficient vehicles has never been higher. Leading the charge are several Indian companies that are developing innovative electric cars, two-wheelers, and three-wheelers.

These vehicles offer a combination of eco-friendliness, advanced features, and cost-effective solutions. In this article, we will explore the top 10 electric car companies in India by market share, that are driving this transformation and shaping the future of sustainable mobility.

List of Top 10 Electric Car Companies in India

Serial No.	Company Name

 

#1 Tata Motors

When it comes to the leading company in the electric car industry, Tata Motors consistently holds the top position. Tata Motors was founded in 1945 as a locomotive manufacturer, primarily focusing on diesel vehicles for commercial use.

The company entered the electric car market with the launch of the Tata Tigor EV, first introduced in August 2021. The 2022 iteration made its debut on November 24, 2022. Following the launch of the Tigor EV, Tata Motors rapidly positioned itself as a frontrunner in India’s growing electric vehicle landscape.

Tata EV aims to innovate mobility solutions with a passion for enhancing the quality of life. With the highest number of homegrown electric cars on the road, Tata Electric Cars are helping India transition to electric mobility, having collectively driven over 2 billion kilometers.

Here is a list of all the models by Tata Electric:

Sr No	Name of the Model	Price
1	Tata Tiago.ev	Starts at  ₹7.99 lakh
2	Tata Punch.ev	Starts at ₹9.99 lakh
3	Tata Tigor.ev	Starts at ₹12.49 lakh
4	Tata Nexon.ev	Starts at ₹12,49 lakh
5	Tata Curvv.ev	Starts at ₹17,49 lakh

 

Tata Motors is set to launch the Tata Harrier EV soon, along with the Sierra EV and Avinya EV, which are currently in the pipeline. Both the Sierra and Avinya are anticipated to debut in FY26. The concept version of the Avinya was unveiled at the 2022 auto show, and reports suggest that Tata may introduce multiple models under the Avinya brand.

#2 MG Motors India 

William Morris founded MG Motors India in a garage called ‘Morris Garages’ in 1924. The company has returned to India under the leadership of SAIC Motor Corporation Limited, the world’s 7th largest automobile company, and ranked 36th on the Fortune 500 list.

With the inauguration of its first manufacturing facility in Halol, Gujarat, in September 2017, MG is now fully operational in India. In 2020, MG Motors launched its first electric car, the MG ZS EV, which is recognized as the country’s first pure electric internet SUV.

Here is a list of all the Electric car models offered by MG Motors India: 

Serial No.	Name of the Car	Price (₹)

 

MG Motors is planning to launch two new cars in India in 2024, out of which one will be an electric Vehicle. The company will also launch new products in the India Market next year. 

#3 Mahindra Electrical Automobile

Mahindra Electric Automobile Limited (MEAL) is a subsidiary of Mahindra & Mahindra Ltd. The Mahindra Group, founded in 1945, is one of the largest and most respected multinational federations of companies globally. With a presence in over 100 countries, Mahindra is a USD 19.4 billion group, employing 2,56,000 people worldwide.

In August 2022, Mahindra unveiled its “Born Electric Vision,” with the India launch taking place on February 10, 2023. This vision marked Mahindra’s ambitious goal of becoming a global leader in the electric automotive space. MEAL is at the forefront of driving Mahindra’s electric revolution, particularly in the electric SUV segment.

Currently, Mahindra has only one Electric SUV named the Mahindra XUV400. The Price of Mahindra XUV400 price starts at Rs. 15.49 lakh. The all-electric XUV400 is an authentic Mahindra SUV, offering a blend of toughness, eco-friendly electric power, and stylish design. It features spacious interiors, great performance, and modern technology.  It is Fun, fast, and fully electric!

2025 is going to be a year of many Electric car launches for Mahindra. After the XUV400 the next electric to be launched is the Mahindra XUV. e8. It is expected to be launched by December 2024

In addition to XUV. e8, Mahindra electric has the XUV.e9, BE.05, BE.07, BE.RALL- E in its pipeline. After XUV. e8, the XUV.e9 will be launched next by April 2025.

The Mahindra BE.05 and BE. RALL-E will be launched by October 2025. The Mahindra BE 07, which is a 4.6-metre-long SUV, will likely be more luxury-focused than the BE 05 and is expected to be launched by April 2026. The BE 09 is still in the concept stage. 

The company is also planning to electrify its ICE brands, the Electric Thar, Scorpio, and Bolero. The launch timeline of these models will be revealed at a later date. 

#4 BYD India

Founded in February 1995, BYD is a high-tech company focused on using technological innovations to improve lives. After over 20 years of rapid growth, BYD has built more than 30 industrial parks across 6 continents, impacting industries such as electronics, automotive, new energy, and rail transit. As of January 2023, BYD has sold over 3.3 million new energy vehicles globally.

Currently, BYD has the following Electric cars in its portfolio:

Sr No	Name of the Model	Price
1	BYD Atto 3	Starts at 24.99 lakh
2	BYD Seal	Starts at 41 lakh

 

BYD India will soon launch its next Premium SUV the BYD eMax7. The eMAX 7 is an upgraded version of the e6 MPV. The BYD eMAX 7 is expected to launch in India on October 8, 2024.

Bookings for the vehicle are open now, and the first 1,000 customers who book the car by October 8, 2024, and take delivery by March 25, 2025, will receive special offers of INR 51,000 and a complimentary 7 kW and 3kW charger upon delivery. 

#5 Hyundai Motor India 

Hyundai Motor India Limited (HMIL), a wholly owned subsidiary of Hyundai Motor Company, South Korea, was established on May 6, 1996. Entering a market led by Maruti and Tata, Hyundai aimed to bring modernity and innovation to Indian customers, setting up its first manufacturing plant in Tamil Nadu, marking the beginning of its journey in India.

Over the years Hyundai Motors launched many cars but it entered the Electric car market in 2023 with the launch of Hyundai IONIQ 5. Currently, the company only has the IONIQ 5 electric car. The Hyundai IONIQ is priced at Rs 46.05 lakh in India. 

Hyundai is soon expected to launch the Creta EV in the Indian Market. It is expected to launch in India by the end of this year or early in 2025. The Creta EV is assumed to start around Rs 20 lakh. 

In addition to the Creta EV, Hyundai is also expected to launch the Hyundai IONIQ 6 and the second generation of Hyundai Kona Electric 2024 by next year.

Hyundai Motors is also planning to introduce the smallest member of the electric vehicle family the Hyundai Inster EV in India. The India launch is expected to be around June 2026, and the price of Inster EV is expected to be from Rs 10- 12 lakh. Hyundai Inster EV will be launched first in South Korea.  

#6 Citroën India

 

According to some sources, Mercedes Benz is coming up with three more E-Cars. The cars may be launched as the most expensive cars with high-class performance capabilities and features. 

#9 Volvo Auto India 

Volvo began car production in 1927, aiming to create safer and sturdier vehicles for Swedish roads. The first model, the ÖV4, was an open tourer with a four-cylinder engine.

 

In 2007, Volvo Car Corporation entered the Indian market with its flagship products, the S80 sedan and the XC90 SUV.

Fast Forward to 2019, Volvo Auto India launched its first Fully- electric vehicle the Volvo XC40 Recharge P8. It was based on the best-selling XC40 and was the first Volvo model to be equipped with a brand-new infotainment system powered by Android. The electric car is priced at ₹54,95,000.00. 

Here is the list of all-electric Models offered currently by Volvo India: 

Sr No	Models	Price

 

The Volvo EX90 is the next upcoming electric car by Volvo India. The Volvo EX90 will be launched by 2025 at a price tag of 90 lakh. The Volvo EX90 is based on the Concept Recharge and represents an evolution of the current XC90 SUV.

Along with the EX90, the Volvo EX30 is also expected to be launched by next year. 

#10 Kia India

Founded in 1944 as Kyungsung Precision Industry, Kia initially produced bicycles and later motorcycles, paving the way to become Korea’s first automobile manufacturer.

Fast Forward to  April 2017, Kia India signed an MOU with the Andhra Pradesh government to establish a manufacturing facility in Anantapur District. Mass production began in August 2019, with a capacity of around 300,000 units annually. Kia India has since launched five vehicles, including the Seltos, Carnival, Sonet, Carens, and EV6.

In April 2021, Kia India reimagined itself in line with its new brand identity, “Movement that Inspires” aimed at offering customers meaningful experiences backed by innovative products and services.

Kia EV9 is the next upcoming electric car by Kia India. The second electric car to be launched in India by Kia is the Kia EV9. It is expected to launch in India by October 3, 2024. It is expected to have a high price of Rs 80 lakh.