EV race gets tough for Tata Motors

Losing Spark

- NITIN KUMAR

AFTER NEARLY FIVE years of dominating the passenger electric vehicle (EV) market, Tata Motors is now grappling with rising competition from automakers such as MG Motor and Mahindra & Mahindra.

In January, Tata Motors' EV retail market share fell below 45%, marking a significant drop from its peak of 95% in early 2022. The company sold 5,109 units out of the total 11,446 EVs retailed nationwide last month, as per Vahan data.

Tata Motors continues to be the segment leader, but with a surge in new EV launches, customers now have more choices, which has been gradually eroding its dominance.

"Tata Motors was an early mover in the market, but its leadership is now being challenged by competitors offering more futuristic, feature-packed vehicles at competitive prices," said Nikhil Dhaka, vice-president, Primus Partners.