Tata Motors targets 45-50% share in the electric car market, plans 2 new launches in 2026
Tata Motors Passenger Vehicles (TMPV) is confident of maintaining leadership in the electric car market despite the entry of new players and intensifying competition from rivals. The home-grown auto major said on Tuesday that it is eyeing a 45-50% market share in the fast-growing EV market on the back of a wide portfolio of battery-powered vehicles and aggressive launches planned ahead.
"As EV adoption accelerates, our commitment remains clear: to mainstream electric mobility by making it accessible across segments, strengthening the ecosystem, and investing in India-first technology and localization. This is how we will continue to lead India's growing EV market," TMPV MD & CEO Shailesh Chandra said.
The carmaker, which has committed an investment of Rs 16,000-18,000 crore in the EV business, will be launching 2 new EVs next year and three more new nameplates by FY30. Tata Motors would be launching the electric version of its highly popular Sierra SUV and bring the premium Avinya range of EVs in 2026.
"To support all the product and mainstreaming actions, we have announced a capex commitment of Rs 16,000 to Rs 18,000 crore between FY 25 to FY 30, which will help us strengthen leadership, expand our EV portfolio and accelerate the mainstreaming of electric mobility in India," Chandra said. "And through these actions, we believe a steady state EV market share of 45 to 50 % is achievable for us, even in our intensely fought market," he added.
EV sales in India are shifting gears, with their share in PV sales doubling in the first half of FY26. EVs now account for about 5% of all PVs sold, compared to 2.6% at the end of FY25. According to data from the Federation of Automobile Dealers Associations (FADA), electric car sales grew 108% year-on-year to 91,726 units in the first six months of FY26, up from 44,172 units in the same period last year.
Amid intensifying competition, homegrown auto major Tata Motors remains the top player and has a current market share of less than 40%. JSW MG Motor India’s market share expanded to nearly 30%, thanks to excellent demand for the Windsor EV. Mahindra & Mahindra’s two electric-origin SUVs - BE 6 and XEV 9e - were among the most desired EVs of 2025 and helped the SUV major grab a market share of 19%, up from 7% share it had a year ago.
Going ahead, competition is expected to intensify as Maruti Suzuki prepares to launch its first electric car, the e-Vitara. The country’s largest carmaker has also stated its ambition to become the market leader in the EV space. Meanwhile, India’s automobile market also saw the entry of American EV giant Tesla and Vietnamese electric carmaker VinFast in 2025.
Tata Motors also achieved a unique milestone of becoming the first carmaker to sell 250,000 EVs in India with Nexon.ev surpassing 100,000 cumulative sales.