BYD, the leading global EV seller, has made significant strides in India, establishing 40 showrooms and launching the Sealion 7 eSUV, which has already garnered over 1,000 bookings.

Additionally, Vinfast aims to launch two premium electric SUVs in India by the second half of 2025, targeting a price range of ₹35-50 lakh.

Vinfast is also making its mark with plans for a plant in Thoothukudi, Tamil Nadu, to assemble premium SUVs, which the CEO has labeled as 'game changers' for EV adoption.

Global electric vehicle (EV) manufacturers are increasingly focusing on India, a market that is still in its developmental stages.

Currently, India's electric passenger vehicle penetration is below 3%, highlighting substantial growth potential as the necessary charging infrastructure continues to evolve.

To stimulate the EV market, the Indian government has implemented measures such as reducing the Goods and Services Tax (GST) on electric vehicles to 5% and proposing significant cuts to import duties.

One of the proposed changes includes reducing import duties on electric cars from a steep 110% to as low as 15%, provided manufacturers invest at least $500 million in local production.

In March 2024, the Indian government launched the Scheme for Manufacturing Electric Cars to encourage local production of high-end electric vehicles.

Tesla is expected to introduce its Model 3 and Model Y in India, with prices estimated between $44,000 and $61,630, or ₹38-53 lakh.

The company plans to begin selling imported cars through showrooms in Mumbai and Delhi, contingent on favorable tariff conditions for local production.

However, Tesla's entry into the Indian market remains uncertain, as Elon Musk has expressed concerns over local manufacturing requirements amidst ongoing political tensions regarding tariffs.

The competitive landscape in India is characterized by a mix of mass market players like Tata Motors and premium brands such as BYD and Tesla.