LOOKING FOR AN EV UNDER RS 10 LAKH? OPTIONS REMAIN LIMITED AS ONLY MG COMET, TATA TIAGO EV AND TATA PUNCH EV FIT THE BILL

With petrol and diesel prices going up, electric vehicles (EVs) could attract more budget-conscious buyers in India. On May 15, oil-marketing companies (OMCs) increased fuel prices by Rs 3 per litre for the first time in four years, taking petrol prices in Delhi to Rs 97.77 per litre and diesel prices to Rs 90.67 per litre.

The latest hike comes at a time when EVs are witnessing strong growth in India, although relatively affordable options in the segment remain limited. According to Federation of Automobile Dealers Associations (FADA) data, the retail sales of electric passenger vehicles (PVs) jumped 83.63% year-on-year (y-o-y) to 1,99,923 units in FY26. The EV market share in the PV segment also increased to 4.2% during the year from 2.6% in FY25.

Tata Motors Passenger Vehicles remained the largest electric PV player in FY26 with 78,811 units sold, followed by JSW MG Motor India at 53,089 units and Mahindra & Mahindra at 42,721 units. Hyundai Motor India sold 5,885 units during the fiscal, according to FADA data.

While only Tata Motors Passenger Vehicles and JSW MG Motor India currently offer electric PVs priced below Rs 10 lakh (ex-showroom), most EV models from the top manufacturers are concentrated in the Rs 10 lakh-30 lakh (ex-showroom) price bracket. These include models such as the Tata Nexon.ev, Tata Curvv.ev, Tata Harrier.ev, MG Windsor, MG ZS, Mahindra BE 6, Mahindra XEV 9e, Mahindra XEV 9S and Hyundai Creta Electric.

In April 2026 alone, electric PV sales rose 75.14% y-o-y to 23,506 units, while segment market share improved to 5.8% from 3.7% in April 2025, indicating growing consumer interest despite limited affordable choices in the market.

The rising interest in EVs is also being reflected in customer enquiries and bookings. "There has been a jump of 25-30% in bookings after the West Asia crisis. Our growth is higher because of new model launches. We are hiking production by 10% from this month but a lot depends on the capacity that our vendors have because they need to ramp up too," said Shailesh Chandra, MD and CEO, Tata Motors Passenger Vehicles, during the company's Q4 FY26 results media conference.

However, buyers looking for an affordable EV with a budget of under Rs 10 lakh still have very limited options. Currently, only three mainstream electric PVs fit that price bracket -- the MG Comet EV, Tata Tiago.ev and Tata Punch.ev.

The MG Comet EV is the most affordable among the three. It starts at Rs 7.63 lakh (ex-showroom). JSW MG Motor India is also offering the model with a battery rental programme, where the vehicle can be purchased at Rs 4.99 lakh with battery rental charges of Rs 3.2 per kilometre. The Comet EV uses a 17.3kWh battery paired with a permanent magnet synchronous motor producing 42PS and 110Nm. The company claims a range of 230km on a single full charge.

The Tata Tiago.ev starts at Rs 7.99 lakh (ex-showroom). However, under Rs 10 lakh, buyers can only opt for the medium range (MR) variant. The model gets a 19.2kWh battery pack and a 61PS/110Nm electric motor. While the claimed range stands at 223km, the real-world range is estimated to be around 168km on a single charge.

Meanwhile, the Tata Punch.ev starts at Rs 9.69 lakh (ex-showroom). Tata Motors Passenger Vehicles is also offering the electric SUV with a battery subscription model at Rs 6.49 lakh, along with battery rental charges of Rs 2.6 per kilometre. For under Rs 10 lakh, customers can only purchase the Punch.ev 30 variant, which gets a 30kWh battery pack and an 88PS/154Nm electric motor. While the certified range is around 375km, the real-world range is estimated at around 275km on a single charge.

Although EV adoption is rising steadily in India, affordable options in the sub-Rs 10 lakh category remain limited, especially for buyers seeking a longer driving range.

2026-05-15T13:17:28Z