India’s EV market shifts into high gear with Tesla debut – taking on Tata, JSW MG
The entry of Elon Musk’s company has electrified India’s EV market, fuelling a new era of competition with local rivals
Indians have been quietly buying EVs. While still a niche segment in the world’s third-largest car market, EVs are belatedly gaining ground, with a fierce battle emerging between new players and the once dominant Tata Motors.
JSW MG Motor India – a joint venture between the country’s JSW group and China’s SAIC Motor – is leading the charge, growing its market share from under 1 per cent in February 2020 to 30 per cent by June this year.
This was largely driven by the success of the Windsor EV it launched late last year, according to the Financial Express daily.
That has come at a cost to Tata Motors, whose once dominant share of India’s electric vehicle car market nearly halved to 38 per cent in July – despite recording its highest monthly sales.