A major hurdle for more energy-efficient vehicles being bought in India is closer to being overcome, as Indian automotive giant Tata Motors recently stated that the cost of making electric cars has declined because of cheaper batteries.
"Electric car prices are coming close to the pricing of internal combustion engine cars," Shailesh Chandra, the company's managing director, said at the Bharat Mobility Global Expo 2025 in mid-January, according to Bloomberg.
For years, the major roadblocks that stood in the way of electric vehicles competing with dirty-energy-based cars were twofold — pricing and charging infrastructure. But recently, automakers have taken steps to improve both. Along with the decreasing costs of electric car batteries, which Chandra hinted could lead to a doubling or even tripling of EVs sold in India this year, companies have increasingly invested in constructing more charging infrastructure. In December, for instance, Hyundai stated it plans to install 600 public fast-charging stations across India over the next seven years, 50 of which were scheduled to debut by the beginning of the year.
Electric car sales in India slowed last year. After nearly doubling the previous year, year-on-year sales grew by only 18% in 2024, according to Fortune India.
However, these decreasing battery costs are "a positive development and should expand the market," Chandra noted in his press conference, and indeed more and more manufacturers are developing electric vehicle models.
Indian company JSW Group and Chinese automotive giant SAIC Motor recently announced plans to jointly develop the very first electric sports car line, MG Cyberster, in India that's set to debut in April, according to Bloomberg.
As relayed by Fortune India, manufacturers have pointed to "a global narrative of doom and gloom surrounding EVs" and "confused customers about whether it was the right time to buy" as major reasons why sales dropped slightly last year.
However, the recent expansion and reinvestment in electric vehicles should largely quell buyer concerns going forward.
By switching to an EV, drivers can save around $1,500 in yearly gas and maintenance costs, all while cutting down on the amount of harmful pollution that is going into the atmosphere.
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Cost 💰 "A key factor now is that negative commentary has significantly decreased. With so many players launching EVs, it instills confidence in customers that this is indeed the future," Chandra said, according to Fortune India. "There is no reason why EV sales shouldn't expand now."
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