The sub-Rs 15 lakh segment in India currently features several electric hatchbacks, small SUVs and crossovers offered by Tata Motors, JSW MG, Citroen and Mahindra. This includes the Tata Tiago EV and Punch EV, MG Comet EV, Citroen eC3 and Mahindra XUV 3XO EV. The segment has seen steady increase in options for consumers wanting an electric car within reach.
This has pushed other brands to look at their small EV options. Hyundai are readying a small electric SUV from the Tamil Nadu based factory. It will be built at the Sriperumbudur plant and will be built specifically for the Indian market. The model, also known as HE1i, will be positioned under the Creta Electric. It could be sold as the Ioniq P. There will be two battery options offered to give a range choice. This will compete within the small electric SUV with Tata, Kia and others. With it being built locally, it will be more affordable for consumers. Due to be released in early 2027.
Maruti Suzuki may look to offer a cheaper option than the e Vitara. Although the model has been released, it uses a battery as a service model to reduce the initial cost. However, Maruti are reportedly working on a smaller electric model. It will be cheaper than the e Vitara with a starting price of around Rs 8.5-10.5 lakh. It will have a smaller range, focusing on city driving. The model may be sold at the Arena dealerships in the future.
Renault and VinFast have also stated their plans. VinFast are looking to build more compact and cheaper electric cars for the Indian market. They are making models specifically designed for India and will focus on smaller, cheaper electric models. As they are already producing in India, they want to expand their range so they can compete further in the lower and middle segments. Renault have also stated they are interested in building cheaper smaller electric models.
Overall there is a lot of interest from established and new brands to compete within this segment. More brands are looking to release localised models with a competitive range, modern features and an affordable price point. This means the sub-Rs 15 lakh segment will become very competitive with many options for Indian consumers.