Battery electric vehicle (BEV) sales in India increased dramatically in the second quarter of 2023, jumping from 21,109 units in the first quarter to 26,794 units. Currently, the market share is 2.7%, up from 0.3% in Q1 2021.
Several factors are driving the growth in sales of battery electric vehicles (BEVs), including rising fuel prices, government subsidies, and increasing awareness of the environmental benefits of electric vehicles.
Here are the top 10 best-selling BEVs in India in Q2 2023, along with their sales figures and market share:
- Tata Tiago EV: 10,695 units (40%)
- Tata Nexon EV: 5,072 units (19%)
- Tata Tigor EV: 3,257 units (12%)
- Mahindra XUV400: 2,234 units (8%)
- MG Comet EV: 1,914 units (7%)
- MG ZS EV: 1,747 units (6%)
- Citroen eC3: 576 units (2%)
- Hyundai Ioniq 5: 449 units (2%)
- BYD Atto 3: 412 units (1.5%)
- Kia EV6: 279 units (1%)
- Hyundai Kona: 159 units (0.5%)
As you can see, Tata Motors dominated the BEV market in Q2 2023, with the Tiago EV, Nexon EV, and Tigor EV accounting for over 71% of the market share. Mahindra's XUV400 was the fourth-best-selling BEV, while MG's ZS EV and Comet EV rounded out the top five.
The battery electric vehicle market is anticipated to grow in the next years as more and more people switch to electric vehicles. By 2030, the government wants to sell 30% more BEVs, and with the proper regulations in place, India is in a good position to dominate the global BEV industry.