India Electric Vehicle Market Top Key Players- MG, Mahindra, Tata, Hyundai, Maruti Suzuki

India Electric Vehicle Market is estimated at $xx Billion in 2020. The Indian EV battery market alone is estimated at $XX Billion. For passenger cars, mid-size and entry-level hatchbacks dominate the market, while motorcycles have 75% of the market under 150cc.

3-wheelers play an important role in the Indian market, mainly for commercial purposes. Not only is it a common mode of transportation for last mile connections, it also plays an important role in visiting transportation in both rural and urban environments.

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INDIA ELECTRIC VEHICLE MARKET DYNAMICS

Of the 238,000 registered electric vehicles sold in India in 2020

• 103,000 low-speed electric scooters (top speed < 25 kmph)

• 41,000 high-speed electric scooters

• 88,000 tricycles

• 5,900 cars

The number of unregistered electric three wheelers is estimated to be at 59,000 units.
Currently, a FAME2 subsidy exists for all electric vehicles except buses, where 15,000 rupees per kWh of battery is raised up to 40% of the total vehicle price. The state is also implementing subsidies for electric vehicles and budgets for infrastructure development.

INDIA ELECTRIC VEHICLE MARKET SEGMENTATION

BY OEM
• Tata
• Hero
• Mahindra
• Hyundai
• Others

BY VEHICLE TYPE
• Passenger cars
• Two Wheelers
• Commercial Vehicles

BY COMPONENTS
• Traction Motor
• Battery
• Power Electronics

BY EV TYPE
• PHEV
• BEV
• HEV

COMPETITIVE LANDSCAPE

• There are 32 brands in the Indian electric motorcycle market with over 100 models. By 2026, non-competitive players will lose digits and the number of players will be significantly reduced. Only 11 companies managed more than three-digit sales in the 2020 market.

• Among the passenger cars, Tata, MG, Hyundai and Mahindra are active in the current market. The market is very price sensitive, so subsidies lead the market and urban areas are the target markets. Maruti and Renault talked about possible electric vehicles to be released to the market over the next two years. The market is mainly dominated by vehicles used by taxis and static route operating vehicles, as the operating costs are much lower than ICE vehicles and the invested capital can be returned in 3-4 years.

COMPANY PROFILES

ELECTRIC CAR MANUFACTURERS
• MG
• Mahindra
• Tata
• Hyundai
• Maruti Suzuki

ELECTRIC TWO WHEELER MANUFACTURERS
• Hero electric
• Okinawa
• Ampere
• Ather
• Baja

Read More Information: https://mobilityforesights.com/product/india-electric-vehicle-market/

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This release was published on openPR.