This year is set be of a big upheaval in the electric car space. While Tata Motors continues to enjoy a massive lead, the battle for the second place has gotten interesting, with JSW MG Motor India gradually losing its position to Mahindra. According to data sourced from the Vahan retail sales portal, JSW MG was at the second position in January and February, but Mahindra overtook it in March and April, and with the latter’s sales rising thanks to new EV models, the lead is likely to only increase.
In 2025, JSW MG (51,387 units) led Mahindra (33,513 units) by almost 18,000 units, but with the launch of the XEV 9S and XUV 3XO EV, the latter has reduced the lead. In the first four months of the year, the gap between the two was reduced to just about a thousand units—JSW MG sold 18,726 units and Mahindra has sold 17,795 units.
Automotive analysts told FE that Mahindra’s ascent to the second spot in March and April is driven by a multiproduct offensive.
Diversification vs. Niche Dominance
While JSW MG remains heavily reliant on the Windsor EV (as seen from its flat sales of 4,858 units in January to 5,006 units in April), Mahindra’s diversified portfolio across key SUV segments has allowed it to capture a wider audience, helping it to grow by 42% just this year (from 3,817 units in January to 5,412 units in April), and, therefore, it is well-positioned to leverage its superior production scale and brand loyalty to outpace JSW MG in 2026.
Gaurav Vangaal, associate director, light vehicle forecasting, S&P Global Mobility, said that the Indian mass-market EV segment is entering a decisive phase. “Mahindra’s portfolio expansion demonstrates confidence in long-term category growth, creating multiple customer touchpoints. Conversely, MG’s focused strategy has proven effective—the Windsor EV’s success shows that niche dominance can outpace diversification. If MG’s next vehicle performs as strongly, they’re positioned to lead. This competition ultimately benefits consumers through choice and innovation. The outcome remains genuinely open, and that’s healthy for the market.”
Another analyst added that while the Windsor EV has been attracting a customer looking for an EV in the lucrative Rs 10-20 lakh space, Mahindra has been attracting entry-level customers with the 3XO EV.
Similarly, Mahindra has been attracting midsize SUV customers with the BE 6, and luxury and family customers with the XEV 9e and 9S.
Unassailable Leader
But despite Mahindra’s rising sales, overtaking Tata Motors will be a monumental task, which launched the new Punch EV in February, and is set to drive in the Sierra EV this month, followed by the Safari EV, and the dedicated luxury EV brand Avinya possibly next year. Tata Motors’ dominance is staggering—it sold 31,059 units from January-April 2026, almost double that of JSW MG and Mahindra together.
However, all these three established EV players are set to run into new competition. Maruti Suzuki has entered the arena with the eVitara, whose sales have been rising fast— from 220 units in January to 1,230 units in April—and Vietnam’s Vinfast has been getting stronger (440 units to 1,232 units from January to April this year).
Toyota will also launch the eBella (based on the eVitara) soon, and the real EV war will escalate later in 2026 or early 2027 when Hyundai and Kia will drive in their highly anticipated, mass-market localised EVs. In fact, during the analyst call on Friday, Tarun Garg, MD & CEO of Hyundai Motor India, confirmed that a localised dedicated EV in the compact SUV space is coming within FY27.
