Date of Publication- May 2024

India’s electric car market has been experiencing significant growth in recent years, driven by various factors including environmental concerns, government incentives, and the desire for sustainable transportation solutions. This report provides an overview of the electric car market in India, including yearly sales, projections, market drivers, challenges, and key players.

Table of Content

  1. Electric Car Market Overview in India
    • Factors responsible for delay in few OEM’s EV entry
    • Category Wise EV Market Share
    • Electric Car sales trend
    • State wise sales trend
    • Player wise sales trend
    • Player wise Market Share and Number of EV Models
    • Sales comparison of popular Electric Car Models
    • Leading city wise sales trends
  2. India Market Outlook
    • Historic Trend
    • Electric Cars Yearly Forecast up to 2030
    • Key Industry Developments
  3. Upcoming Electric Car Models
  4. Key Market Drivers
    • Government Push
    • Financial Support
    • Growing Environmental Concerns
    • Improving Infrastructure
    • Rising fuel prices and falling battery costs
  5. Policies and Regulations
    • Timeline of Central EV initiatives
    • Central Level Policies: FAME India Scheme
    • Approved EV models & Incentive amount under FAME-II
    • Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry
      • Champion OEM incentive scheme
      • Component Champion incentive scheme
    • Scheme to Promote Manufacturing of Electric Passenger Cars in India
    • Timeline of state EV Policies
    • State Level Demand Incentives
  6. Investments
    • Player wise Investments in the Electric Car segment between FY2021-FY2024
  7. TCO Analysis
    • Total Cost of Ownership: EV vs Hybrid vs ICE vehicle
  8. Electric Car Supply chain
    • Major Components of an Electric Car
    • Motor Market Overview
    • Battery Market Overview
    • Powertrain Market Overview
    • Component Suppliers
  9. Challenges
    • Consumers’ Perspective
    • Charging Infrastructure
    • Policy & Regulatory Challenges
    • Supply Chain Constraints
  10. Key Player
    • Private Electric Car Segment (Company Overview, Sales trend, State wise share in FY2024, Partnerships, Component Suppliers, etc)
      • Tata Motors
      • MG Motor India
      • Mahindra & Mahindra (M&M)
      • Hyundai Motor India
    • Luxury Electric Car Segment (Player wise Luxury Electric Car yearly sales, Luxury Electric Car Models)
    • Shared Mobility Segment (Company Overview, Investments, Partnerships, etc)
      • BluSmart
      • Uber
      • Ola
      • Lithium Urban Technologies
      • Evera
      • Snap E

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JMK Research & Analytics is a specialist research and consulting firm that focuses on various cleantech segments in India and the Asia Pacific Markets, including Renewables, E-mobility, Energy Storage, and Green Hydrogen.

Based on our extensive industry experience and strong network, we offer valuable insights and detailed information to help clients develop successful business models and market strategies.


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