M&M and Maruti Suzuki are set to challenge Tata Motors' dominance in India's EV market as competition intensifies.

M&M has recently launched two new EVs and is making significant investments in the EV ecosystem.

Maruti Suzuki is also planning to debut its long-awaited E-Vitara, an electric SUV, from its Gujarat plant in 2025.

Tata Motors currently holds a 58% market share in the EV sector, down from 74% a year ago.

They have a portfolio of five models: Nexon, Punch, Tiago, Tigor, and the newly launched Tata Curvv EV.

Analysts believe that while Tata Motors has an advantage as a first mover, M&M and Maruti Suzuki are emerging as strong contenders in the electric mobility landscape.

The current phase of the EV market is characterized by manufacturers primarily focusing on assembling vehicles rather than fully engaging in the competitive race.