2025 Will Be ‘EV Sahi Hai’ Moment for Car Market: JSW MG’s Rajeev Chaba

“2025 is the ‘EV Sahi Hai’ moment for the Indian car market,” says Rajeev Chaba, CEO, Emeritus at MG Motor India Pvt., while expressing strong optimism about the country’s electric vehicle (EV) future.

With mainstream car makers like Maruti Suzuki and Hyundai Motor entering the EV market and homegrown car makers Tata Motors and Mahindra & Mahindra expanding their portfolio, Chaba believes that the adoption rate will accelerate as more mainstream players enter the EV segment, creating a more robust and competitive ecosystem.

Speaking about EV adoption in India, Chaba said: “We have been waiting for this moment. More players in the segment will help educate the market, improve charging infrastructure, and encourage financial institutions to support EV financing.”

He emphasized that India's EV penetration is still nascent, with only 2.5% of the total passenger vehicle market comprising electric vehicles. “Right now, only two to three customers out of every 100 opt for an EV. If this number increases to five or six, we are talking about 5-6% penetration, which is still not huge but is a significant step forward,” he told Autocar Professional.

EV Market Growth in 2025

Chaba predicts that 2025 will be a landmark year for EV adoption in India, dubbing it the ‘EV Sahi Hai’ moment—a reference to the popular campaign that boosted mutual fund awareness in the country.

“In 2024, India’s total EV sales were around 100,000 units. I expect a minimum of 50% growth in 2025, possibly up to 70%. This means total EV sales could reach anywhere between 150,000 to 200,000 units, depending on new product launches and adoption rates,” he said.

He attributed the slower adoption in the past to the lack of compelling EV products. “The problem has never been consumer interest, but the lack of strong EV offerings from the industry. The market will grow as more manufacturers enter the space and push EV adoption collectively.”

Competition and Collaboration

Welcoming competition in the EV space, Chaba said: “More players coming in will lead to the expansion of the industry, which is great news. We cannot be happier because it will bring better infrastructure and financing options. It’s a collective effort that will drive the industry forward.”

He also highlighted the importance of industry-wide collaboration. “When we, as an industry, start talking more about EVs and invest in initiatives like battery-as-a-service (BaaS) and localized supply chains, the entire ecosystem benefits. This will help us move towards a sustainable future.”

JSW MG’s EV Strategy

JSW MG Motor has now become a strong player in India’s electric passenger car market with three models: Windsor, Comet, and ZS. EVs account for 70-80% of the company’s total sales in India and make it the second-largest EV carmaker after Tata Motors.

JSW MG Motor has already seen a strong response to its latest EV, Windsor. “We were confident about Windsor’s success, but given the evolving EV space, we did not anticipate such high demand. We received 15,000 bookings, delivered 10,000 units in just three months, and currently have a backlog of 18,000 orders,” Chaba said.

Windsor is JSW MG's third electric car in India, after ZS and Comet. The company has started offering a Battery-as-a-Service (BaaS) program for its EVs, which reduces the higher upfront cost of the vehicle by separating the battery cost from the total cost and charging the customers on a per-kilometer basis for the battery.

The automaker is ramping up its production capacity and enhancing supplier capabilities to meet this growing demand. “It’s not just MG India scaling up—our suppliers are also localizing production to support this growth,” he added.

Going forward, JSW MG Motor anticipates diversifying its product lineup with two new vehicles - the MG Cyberster and MG M9. These models will be introduced under the company's latest premium sub-brand "MG Select," which focuses on delivering "accessible luxury" to the Indian market. Both vehicles are scheduled to launch in the first half of this year.

Looking Ahead

Chaba remains confident that MG Motor India is well-positioned for the next growth phase. “We are no longer looking at 60,000-70,000 annual volumes; we need to scale up to 250,000-300,000 units in the coming years. We have a clear roadmap for MG 2.0 and will focus on sustainable expansion,” he said.

With growing consumer interest, a strengthening EV ecosystem, and aggressive industry participation, Chaba believes 2025 will mark a turning point for electric mobility in India. “This is the moment we have been waiting for. The industry is finally coming together to mainstream EVs, and I see a promising future ahead,” he said.