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The competitive landscape is shaping up as a two-tier system—mass market and premium. While companies such as Tata Motors, JSW MG Motor and others focus on the price-sensitive segments, international brands are aiming for premium positioning.
Chinese giant BYD, number one in global EV sales, has made significant inroads into India with cars priced at ₹25-55 lakh. Similarly, Vietnam's Vinfast plans to introduce two premium electric SUVs—VF 6 and VF 7—in India by the second half of 2025, priced at ₹35-50 lakh. Tesla’s potential entry with its popular Model 3 and Model Y, priced from $44,000 to $61,630 (₹38-53 lakh), are expected to be major contenders in the premium EV space.
With markets such as China and Europe showing signs of saturation, BYD, with a 16.8% market share, and Tesla, with 16.6%, are both eyeing India as a crucial market for sustaining their growth amid the broader global slowdown.
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