ev segment

Overall EV sales robust in May

India's burgeoning EV market, exceeding 1.5 million vehicles, is critically reliant on energy storage for its sustainable growth. This technology underpins reliable charging infrastructure, grid stability, and renewable energy integration, essential for achieving net-zero goals. Addressing challenges in grid reliability, cost, and workforce development is key to unlocking the full potential of India's electric mobility future.

Bhubaneswar Municipal Corporation is transitioning to electric vehicles. At least 50 diesel-run waste transportation vehicles will be replaced with EVs. This move aims to reduce fuel consumption and carbon footprint. The corporation will also use EVs for official and field work. This initiative supports green mobility and climate-resilient urban infrastructure goals.

Lower running costs remain the biggest advantage of CNG vehicles, particularly for city commuters and commercial users. However, reduced performance, compromised boot space and long queues at fuel stations remain concerns for many buyers. Larger and premium vehicle segments also continue to offer limited CNG options.

Jadavpur University has developed a functional prototype of a retrofitted electric Ambassador taxi, offering a practical solution for India's EV transition without scrapping existing vehicles. This initiative, in collaboration with DVC, aims to create a scalable, sustainable e-mobility model for Indian conditions, with a focus on retaining the original transmission for cost-effectiveness.

Tesla has significantly reduced Model Y prices in India, with the Premium RWD now costing Rs 9 lakh less. This strategic move aims to boost demand for its imported EVs, making them more accessible to a wider audience.

Plans New Products & Eyes New Applications

The Sealion 6 is also under consideration and has been seen on Indian roads during testing. Globally, it is offered with either a naturally aspirated or turbocharged 1.5-litre petrol engine, paired with 18.3kWh and 26.6kWh battery packs. BYD claims a maximum combined driving range of up to 1,092km.

Ultraviolette Automotive has delayed its Tesseract electric scooter launch to January 2027, aiming to set a new benchmark with India's first 100V scooter architecture. This engineering pivot allows for 15 kW peak power from a 4 kWh battery, significantly exceeding current market offerings.

India's passenger vehicle market surged in May 2026, with Maruti Suzuki achieving record sales. Tata Motors, Hyundai, Mahindra, Kia, and Toyota also reported robust year-on-year growth, driven by strong domestic demand and a significant rise in electric vehicle sales for Tata Motors.

Toyota has launched the Urban Cruiser Ebella E3, an electric SUV, at Rs 23.60 lakh. Sharing technology with the Maruti Suzuki e Vitara, it boasts a 61kWh battery offering a 543 km range. Both SUVs feature a 10.25-inch digital cluster, 10.1-inch touchscreen, and advanced ADAS functions, making them strong contenders in the EV market.

Over the last few years, more manufacturers have started offering such schemes across multiple segments, including affordable city EVs and premium electric SUVs. Here’s a look at the electric vehicles in India currently available with Battery-as-a-Service plans, along with the benefits offered by each brand.

Nissan playfully responded to comparisons between Ferrari's new electric car, the Luce, and the Nissan Leaf. Nissan Ireland posted an image of the two vehicles with a caption suggesting flattery through imitation, highlighting the Leaf as "always a smart choice." The post quickly gained traction online, sparking debate among users.

Goldman Sachs maintains a neutral stance on ITC, anticipating cigarette tax impacts. Citigroup is bullish on LIC, citing strong operational performance and margin expansion. Jefferies raises its target for Nykaa, impressed by robust growth and improving margins. CLSA sees significant potential in Honasa, with strong revenue and margin growth. Morgan Stanley remains overweight on LG Electronics India, despite margin pressures.

Tata Power Renewable Energy Ltd. plans to install three lakh rooftop solar systems in Uttar Pradesh over three years, targeting 1,000 MWp capacity. Leveraging government incentives and innovative financing, including a zero down payment scheme, the company aims to boost solar adoption across urban and rural areas. This initiative seeks to make Uttar Pradesh India's leading rooftop solar market.

Bhubaneswar Municipal Corporation (BMC) is transitioning to electric vehicles, replacing a substantial portion of its 90 diesel vehicles. This initiative aims to promote green mobility, cut carbon emissions, and improve urban air quality. The corporation plans to deploy 60 EVs, including sedans and SUVs, through a bidding process for fleet operators.

Maruti Suzuki India’s latest price hike follows similar revisions announced earlier in FY2027 by Tata Motors Passenger Vehicles, Mahindra & Mahindra and Hyundai Motor India, which increased prices by 0.5% to 2.5%. Unlike its peers, Maruti Suzuki had not implemented any price revision at that time.

Stock market recommendations: Samvardhana Motherson, and Zydus Wellness have been recommended as top stocks to buy for the week starting May 25, 2026 by Motilal Oswal Wealth Management Research Desk:

Skoda Auto has revealed its new electric SUV, the Epiq. This compact vehicle is the brand's smallest and most affordable EV. It offers a driving range of up to 440 kilometers. The Epiq introduces Skoda's new design for future SUVs. It will be available globally, sitting below the Enyaq and Elroq in the electric lineup.

The latest fuel hike may also influence transmission preferences. While automatic gearboxes have become increasingly popular in urban markets, buyers focused on lower running costs could favour AMT-equipped vehicles over less efficient torque converter automatics. Electric vehicles are another segment expected to benefit, particularly among urban buyers with access to home charging.

India’s pharmaceutical & software entrepreneurs show how economic strength matters in disrupted geopolitics. We should build such partnerships across the economy to navigate global headwinds