MG Windsor's 15,000 bookings in 24 hours shake up India's EV market dominance

JSW MG Motor India’s latest electric vehicle, the MG Windsor, has made a strong entry into the market. Within its first 24 hours, the model received over 15,000 bookings, signalling high demand. The car’s arrival is reshaping competition in India’s growing EV sector. The MG Windsor offers a unique battery-as-a-service (BaaS) model, letting customers pay for battery usage rather than buying it outright. This approach has contributed to its rapid popularity, with the model accounting for 30% of India’s wholesale EV sales in October 2024. However, buyers may face a wait of four to six months, depending on the chosen variant.

Tata Motors, long the leader in India’s passenger EV market, has seen its retail share drop from 74% in October 2023 to 58% in October 2024. The shift comes as new competitors, including JSW MG Motor India, gain ground. MG’s overall EV portfolio share has surged from 35% in 2023 to 70% in October 2024, largely driven by the Windsor’s success.

To counter the challenge, Tata Motors has launched new models like the Curvv.ev and an extended-range version of the Nexon.ev. The company expects higher deliveries in Q3 FY25 to meet rising customer interest. The MG Windsor’s rapid uptake highlights changing dynamics in India’s EV market. Tata Motors is responding with new models and increased production, but the Windsor’s early success suggests a more competitive landscape ahead. Customers now have more choices, with innovative payment options and expanding model ranges.