TL;DR
Chinese-backed brands have rapidly gained a 30% market share in India's EV sector, with JSW Motor, BYD, and Volvo significantly challenging domestic players and driving substantial sales growth.
Chinese-backed brands are making substantial inroads into India's electric vehicle market, silently capturing a 30% market share over the past 12-18 months. This rapid expansion, driven by new product launches and an increasing number of showrooms, is significantly challenging the dominance of traditional domestic brands. According to data from the Federation of Automobile Dealers Associations (FADA), one out of every three electric cars sold in India now has Chinese ties.
The electric passenger vehicle segment, once largely monopolized by Tata Motors, now sees JSW Motor, BYD, and Volvo collectively controlling 33.3% of the market. These three companies more than doubled their sales between January and October, posting a staggering 165% Year-on-Year growth. While the overall electric passenger vehicle market grew by 87% in the same period, the growth would have been only 63% without the contribution of Chinese brands, highlighting their critical role in the sector's expansion.
