Tesla has finally stepped into India with the launch of the Model Y. Known for its sleek design, powerful range, and self-driving features, the Model Y brings serious competition to Indian carmakers. With its clean interior, 15.4-inch touchscreen, glass roof, wireless chargers, and ADAS safety tech, it could set new benchmarks for Indian automakers.
| Model | Brand |
| Ioniq 5 | Hyundai |
| XC40 Recharge | Volvo |
| C40 Recharge | Volvo |
| Sealion 7 | BYD |
| EV6 | Kia |
| Company | EV Sales (FY25) | EV Sales (FY24) | YoY Growth % | Market Share FY25 | Market Cap (₹ Cr) |
| Tata Motors | 57,616 | 64,530 | -10.71% | 53.52% | ₹4,52,193.00 |
| Mahindra & Mahindra | 8,182 | 6,119 | +33.71% | ~7.6% | ₹1,62,929.29 |
| Hyundai Motor India | 2,410 | 434 | +455.29% | ~2.2% | ₹70,062.94 |
In contrast to Tata Motors, MG Motor recorded a strong surge in EV sales, reaching 30,162 units, up from 11,684 units in the previous year. This allowed MG to more than double its market share to 28.02%, compared to just 12.77% last year — a staggering 158.16% YoY growth.
| Company | EV Sales (FY25) | EV Sales (FY24) | YoY Growth % | Market Share FY25 |
| BYD | 3,401 | ~1,236 | +175.00% | ~3.1% |
| Citroën | 1,962 | ~7,590 | -74.15% | ~1.8% |
| BMW | 1,550 | ~458 | +237.83% | ~1.4% |
| Mercedes-Benz | 1,133 | ~353 | +220.75% | ~1.05% |
| Others (Kia, Volvo, etc.) | ~1,265 | ~2,250 | NA | ~1.2% |
While Tesla brings unmatched brand prestige and advanced technology to the table, its steep pricing positions it more as a status symbol than a mass-market contender—at least for now.
In contrast, players like Tata Motors, MG, and Mahindra have invested in local manufacturing, affordable pricing, and a deeper understanding of Indian consumer preferences. MG, for instance, more than doubled its market share within a year, signaling strong momentum.
Until Tesla sets up local production facilities and brings prices closer to Indian expectations, it will struggle to break the dominance of homegrown and value-oriented brands.
Tesla’s arrival adds spark and prestige to India’s EV space, but the race is far from over. While Tata Motors still leads, its declining sales hint at shifting tides. MG Motor has emerged as a serious challenger, while Mahindra and Hyundai are not far behind.
Tesla has planted its flag, but whether it can truly compete—or just inspire—is something the next few years will decide.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Jul 17, 2025, 5:23 PM IST
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