Tata Nexon EV recorded sales of 2,244 units in FY2021 and emerged as the best-selling EV with a Market Share of 64%.
The BEV (Battery Electric Vehicle) segment recorded a growth of 131% YoY between Apr-Dec'20 v/s Apr-Dec'19 period. The New Entrants - Nexon & eZS emerged to be the segment bestsellers owing to a better value proposition and impressive range. Also the erstwhile segment leaders - Tigor & Verito sales saw a significant dip and can say that they just got obsolete?
· Tata Motors has garnered 71% of BEV (Battery Electric Vehicle) passenger car market with Nexon and Tigor BEV.
· Mahindra once a pioneer in the BEV passenger vehicle is not even a fringe player now.
· MG too is playing its card quite well with the right product choice (Crossover) and secured 25% market share
· BEV party has started now only, and in next 5 years, any newcomer will not be a late entrant
· In fact, in this nascent stage, every newcomer with the successful product will be the market, thyself