MG slips to 18.8% as Tata, Mahindra tighten grip on India EV market
India's electric PV market grew 79% YoY in May 2026 to 26,373 units. Tata expanded to 38.9% (from 34.5%) and Mahindra to 23.3% (from 21.4%), while MG halved to 18.8% from 31.2%. Maruti (6%) and VinFast (4.7%) entered as fresh challengers.
India's electric PV market grew 79% YoY in May 2026 to 26,373 units, with Tata (38.9%) and Mahindra (23.3%) gaining share while MG slipped to 18.8% from 31.2%. Maruti and VinFast emerged as new entrants.