Introduction

India’s EV market is rapidly transitioning into a phase of growth, driven by a combination of government schemes, stricter emission regulations, and increasing consumer awareness. Increasing fuel prices and urban air pollution issues have further spurred the transition to cleaner mobility. Global as well as local carmakers (vinfast) are competing to seize this momentum with new products and long-term electrification plans.

• India’s EV market is also expected to expand at a double-digit CAGR until 2030, driven by government initiatives such as FAME II subsidies, state EV incentives, and GST cuts, enhancing affordability.
• Higher fuel prices and air quality issues in metro cities are compelling consumers to opt for EVs as a viable everyday-use vehicle.
• Driving infrastructure development, such as the fast growth of fast-charging networks, is enhancing consumers’ confidence in adopting EVs.
• VinFast: Entering aggressively in India with competitively priced EV SUVs, local production in Tamil Nadu, and strategies centered on the ecosystem.
• Mahindra: Riding its “Born Electric” (BE) product portfolio to provide long-range EVs spanning multiple price bands, to become India’s EV leader.
• Volvo: Deepening its India premium EV presence by locally assembling cars and pledging to introduce one new EV in India each year.
• Collectively, these three brands are transforming consumer preference, deepening competition, and hastening India’s transition towards a sustainable automotive future.

VinFast‘s Bold Entry Into India

VinFast has formally entered the Indian market with the introduction of its VF 6 and VF 7 electric SUVs. Priced competitively and aggressively, these vehicles are bundled with compelling ownership privileges, such as free charging for the initial couple of years, to quickly capture the attention of Indian buyers in a highly competitive EV market.

Range & Features:

• VF 6 offers a range of up to 468 km, while VF 7 extends it to 532 km.
• Sophisticated features, such as ADAS, a 360° camera, a panoramic sunroof, and a head-up display, further enrich the premium feel.
• Warranty packages offer 7 years/160,000 km (VF 6) and 10 years/200,000 km (VF 7), providing robust buyer confidence.

India manufacturing:

• The new Tuticorin (Thoothukudi) facility opened in Tamil Nadu.
• Projected capacity of 150,000 units annually, with CKD operations initially followed by subsequent upsizing.

Mahindra’s EV Offensive

Mahindra, India’s indigenous SUV manufacturer, is fully committed to electric mobility through its Born Electric (BE) range. Mahindra has already introduced the BE 6e and XEV 9e, both of which have ranges exceeding 650 km on a single charge, supported by lifetime battery warranties for first-time owners and extended protection for others. These vehicles demonstrate Mahindra’s commitment to offering high-performance EVs with durability and long-range usability.

Future 2025 Models:

• The following set of launches begins with the XEV 7e, which is essentially the electric counterpart of the highly successful XUV700, and is likely to be priced in the region of ₹21 lakh. It will feature several battery pack sizes, high-level ADAS, and triple-screen displays, making it a leading contender in the mid-size SUV EV segment.

XUV.e8 Premium SUV (~₹25–30 lakh):

• A flagship electric SUV positioning.
• Likely dual-motor AWD powertrain with a range of 450–500 km.
• Based on Mahindra’s INGLO EV platform, with futuristic styling and connected technology.

BE.05 Coupe-SUV (~₹20–25 lakh):

• Urban, sporty design for young buyers.
• Range of 400+ km and fast-charging support.
• Stunning interiors with eco-friendly materials.

XUV 3XO EV (~₹15–20 lakh):

• Small electric SUV based on the 3XO ICE bestseller.
• Fitted with a ~35 kWh battery pack for city use.
• Positioned as a budget challenger for the Tata Nexon EV and the MG Comet EV.

Mahindra’s Strategy

• Providing a range of EVs across compact, mid-size, and premium SUV categories.
• Using INGLO platform technology to achieve scalability, efficiency, and performance.
• Concurrently providing affordable urban EVs and high-end long-range crossovers with presence in all customer segments.

Volvo’s Steady Electrification Drive

Volvo has marked a steady but strong march in India’s EV revolution with the introduction of the XC40 Recharge, its locally produced electric car in India. The company, in this step, has not only become price-competitive but also demonstrated its intention to reinforce its long-term hold on India’s luxury EV segment.

• Commitment: One EV per year – Volvo has committed to launching at least one new EV every year in India, to sell 80% of its overall sales electric over the next few years.
• EX30 Compact EV SUV by end-2025: Volvo’s international bestseller, the EX30, is expected to arrive in India around late 2025 and can also be locally manufactured to maintain pricing competitiveness in the premium entry-level EV segment.
• Volvo markets its EVs as luxury, environmentally friendly mobility solutions, emphasizing clean Scandinavian aesthetics, future-proof safety technology, and carbon-neutral manufacturing processes.
• Global-to-InLong-rangedia Strategy: In contrast to mass-market players, Volvo is establishing its EV presence incrementally yet undoubtedly, so its offerings appeal to premium buyers who want both exclusivity and environmentally friendly driving.

Comparative Snapshot

Charging Infrastructure & Ecosystem Impact

With India’s EV market growing, charging infrastructure has emerged as a key driver of consumer take-up. So aware of this are VinFast, Mahindra, and Volvo, which are investing in creating a well-developed charging network that covers their models and reinforces buyer trust.

Charging Station Expansion by Individual Brands:

VinFast: Setting up rapid charging stations at its 27-city dealership network by 2025, including collaborations with third-party charging networks.

Mahindra: Rolling out its AC/DC charging stations in metro and tier-2 cities and integrating into public charging networks.

Battery Swapping, Recycling, and Renewable Energy:

• Developing battery swap stations and partnering with renewable energy companies for solar-powered charging.
• Launching battery recycling initiatives and testing second-life batteries for energy storage, minimizing environmental footprint.
• Investing in sustainable sourcing, renewable energy in assembly facilities, and stimulating end-of-life battery recycling.

Role in Reducing EV Delay:

• Trusted charging infrastructure minimizes range anxiety and increases confidence in EV ownership.
• Ecosystem efforts, such as battery warranties, and servicing packages, make EVs more appealing to consumers.
• These initiatives, as a whole, accelerate India’s shift towards electric mobility by overcoming practical and psychological hurdles to adoption.

Consumer Insights & Market Trends

The Indian EV segment is experiencing a change in purchasing behavior, as buyers balance affordability with premium features, range, and technology. Knowing this preference is crucial for car manufacturers such as VinFast, Mahindra, and Volvo to customize their offerings and address various segments of the expanding EV buyer pool.

Indian EV Buyer Preferences: Affordability vs. Premium Features

• City buyers would prefer range, ADAS functionality, and connected tech even at an increased price point.
• Budget-conscious buyers, particularly in tier-2 cities, consider smaller EVs with affordable ex-showroom prices, decent efficiency, and easy maintenance.
• An emerging base of green buyers would appreciate the use of sustainable materials, battery life, and renewable-powered infrastructure in addition to performance.

Urban vs. Tier-2 City Adoption Trends

• Metro cities (Mumbai, Delhi, Bengaluru, Hyderabad) experience quicker EV adoption with increased disposable incomes, intense charging networks, and pollution concerns.
• Tier-2 and emerging cities are increasingly adopting EVs as they become more affordable, local manufacturing lowers prices, and subsidies from the government.
• Organizations targeting tier-2 adoption tend to target compact SUVs and hatchbacks to be practical and be easy to maneuver in urban areas.

Influence of Government Policies, Subsidies, and Fuel Price Volatility

• FAME II and state incentives further lower the initial cost of EVs, making them comparable to ICEs.
• Increasing fuel prices further incentivize EV acquisition, as running costs are much lower.
• Charging infrastructure, battery recycling, and integration of renewable energy policies enhance buyer confidence and fuel market penetration.

Conclusion

• VinFast has entered India with a price-disrupting strategy and an ecosystem-driven focus, aiming to capture minds not only with cars but also with charging and battery offerings.
• Mahindra is placing its bet on range and long-distance performance, with EVs across a range of price points designed to attract mass and premium customers.
• Volvo, on the other hand, is constructing a stable, premium-oriented EV roadmap, with a robust luxury positioning bolstered by locally assembled models and sustainable offerings.
• All three brands collectively are increasing consumer choice, raising competition, and fuelling India’s transition towards mass EV adoption.

FAQs

Q1. What VinFast EVs are currently available in India?

VinFast has introduced the VF 6 and VF 7 SUVs in India, both of which offer long ranges (up to 532 km) and competitive prices.

Q2. What is Mahindra’s next launch of an EV?

Mahindra will launch the XEV 7e (electric XUV700) in March 2025, followed by the XUV.e8 and BE.05 later in the year.

Q3. Is Volvo locally manufacturing EVs in India?

Yes. The XC40 Recharge is Volvo’s first locally manufactured EV in India, and the new EX30 can also be expected to follow the same line.

Q4. How is VinFast facilitating EV customers in India?

VinFast offers complimentary charging until July 2028, extended warranties, complimentary servicing, and 24/7 roadside assistance.

Q5. Which of these three EV brands has the longest range?

Mahindra’s BE 6e tops the list with an estimated range of 682 km, surpassing VinFast’s VF 7 (~532 km) and Volvo’s XC40 Recharge (~400 km).