India's Electric Vehicle Market Poised for Rapid Growth, Tata Motors CEO Says

India's electric vehicle market is expected to grow rapidly as new players enter and technology costs fall, making battery-powered cars more affordable. Tata Motors Passenger Vehicles CEO Shailesh Chandra expects EVs to account for nearly a third of sales by 2030. The arrival of Tesla and Vinfast Auto signals a turning point for the Indian auto industry, with products spanning affordable to luxury EVs. Competition is eroding Tata's dominance, but Chandra sees this as a positive development, driving excitement in the market and pushing down costs. EV costs are expected to fall as automakers integrate key components beyond lithium-ion cells. The inflection point will come around 2030 when entry-level EVs match gasoline cars on price.