Mahindra pips JSW MG Motor to become 2nd biggest EV maker in March
While Tata Motors still retains the EV crown, M&M is gradually narrowing the gap despite having a majority of premium EVs in its portfolio
- Mar 26, 2026,
- Updated Mar 26, 2026 5:23 PM IST
Mahindra & Mahindra (M&M) is on course to become the second-largest electric vehicle maker by volume in March. M&M is already the leading player in EVs in terms of revenue market share.
Mahindra Electric Automobile Ltd, the EV arm of M&M, recorded sales of 3,527 units as of March 26, according to VAHAN data. This is more than 3,190 EVs sold by JSW MG Motor India, the joint venture between China’s SAIC Motor and Sajjan Jindal-led JSW Group.
After disrupting India’s electric vehicle market with the XEV 9E and the BE 6, M&M introduced two more EVs this year—the XEV 9S and the XUV 3XO EV.
While Tata Motors still retains its EV crown, thanks to several affordable models like the Tiago EV and Punch EV, M&M is gradually narrowing the gap despite having a majority of premium EVs in its portfolio. As per VAHAN data, Tata Motors has clocked sales of 4,761 EVs so far in March.
Maruti Suzuki India Ltd, the country’s largest carmaker, emerged as the fourth biggest EV maker in March, ahead of Vietnam’s VinFast and South Korean carmakers Hyundai and Kia. Maruti Suzuki, which introduced its maiden EV, the e-Vitara, with a battery-as-a-service offering at Rs 10.99 lakh (ex-showroom), recorded sales of 457 units. Maruti Suzuki offers battery EMI at Rs 3.99 per kilometre. This BaaS model was first popularized by the MG Windsor, which remains India’s top-selling EV for the financial year 2025-26.
VinFast, which has quickly ramped up its retail network across India, registered sales of 454 EVs as of March 26—becoming India’s fifth-largest EV seller in terms of volume. VinFast sells VF 6 and VF 7 electric SUVs in India and operates 50 showrooms across the country. The Vietnamese carmaker aims to establish 75 dealerships by the end of the year across more than 60 cities in India.
Kia India recorded sales 326 EVs, while its sister brand, Hyundai Motor India sold 297 EVs as of March 26, taking the sixth and seventh spot, respectively.
China’s BYD, which imports its EVs from the neighbouring country after its investment plan was rejected by the government, managed to sell 285 EVs as of March 26.
Mahindra & Mahindra (M&M) is on course to become the second-largest electric vehicle maker by volume in March. M&M is already the leading player in EVs in terms of revenue market share.
Mahindra Electric Automobile Ltd, the EV arm of M&M, recorded sales of 3,527 units as of March 26, according to VAHAN data. This is more than 3,190 EVs sold by JSW MG Motor India, the joint venture between China’s SAIC Motor and Sajjan Jindal-led JSW Group.
After disrupting India’s electric vehicle market with the XEV 9E and the BE 6, M&M introduced two more EVs this year—the XEV 9S and the XUV 3XO EV.
While Tata Motors still retains its EV crown, thanks to several affordable models like the Tiago EV and Punch EV, M&M is gradually narrowing the gap despite having a majority of premium EVs in its portfolio. As per VAHAN data, Tata Motors has clocked sales of 4,761 EVs so far in March.
Maruti Suzuki India Ltd, the country’s largest carmaker, emerged as the fourth biggest EV maker in March, ahead of Vietnam’s VinFast and South Korean carmakers Hyundai and Kia. Maruti Suzuki, which introduced its maiden EV, the e-Vitara, with a battery-as-a-service offering at Rs 10.99 lakh (ex-showroom), recorded sales of 457 units. Maruti Suzuki offers battery EMI at Rs 3.99 per kilometre. This BaaS model was first popularized by the MG Windsor, which remains India’s top-selling EV for the financial year 2025-26.
VinFast, which has quickly ramped up its retail network across India, registered sales of 454 EVs as of March 26—becoming India’s fifth-largest EV seller in terms of volume. VinFast sells VF 6 and VF 7 electric SUVs in India and operates 50 showrooms across the country. The Vietnamese carmaker aims to establish 75 dealerships by the end of the year across more than 60 cities in India.
Kia India recorded sales 326 EVs, while its sister brand, Hyundai Motor India sold 297 EVs as of March 26, taking the sixth and seventh spot, respectively.
China’s BYD, which imports its EVs from the neighbouring country after its investment plan was rejected by the government, managed to sell 285 EVs as of March 26.