The Upcoming Electric Cars Under Rs. 15 Lakh segment in India is slowly expanding. Currently, buyers have a choice of electric hatchbacks, compact SUVs, and crossovers from manufacturers like Tata Motors, JSW MG, Citroen, and Mahindra.
However, competition in this category is expected to increase in the coming years, as several manufacturers are developing small and comparatively affordable electric vehicles for the Indian market.
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Hyundai is preparing to introduce its new compact electric SUV in early 2027. Affordable EV projects from Maruti Suzuki, Renault, and VinFast are also in the news. Limited information is available on some of these models, while others are based on reports and expectations.
Also Read: Hyundai Compact EV India Debut Expected in Q1 2027, Will Get Two Battery Options
4 Upcoming Electric Cars Under Rs. 15 Lakh in India
Here we are listing Upcoming Electric Cars Under Rs. 15 Lakh, which could become an interesting option in the Indian EV market.
1. Hyundai Compact Electric SUV
Hyundai is developing an all-new compact electric SUV for India, with a launch expected in the first quarter of 2027. Currently identified by the internal designation HE1i, this electric SUV will be positioned below the Creta Electric. Its production will take place at the Sriperumbudur manufacturing facility in Tamil Nadu.
Hyundai will use its E-GMP (K) architecture for this model. This platform is also used in the international Inster electric hatchback. The India-spec version is expected to feature SUV-inspired styling instead of a traditional hatchback. It may be called the Ioniq P, but the final name has not yet been confirmed.
In terms of market positioning, it could compete with the Tata Nexon EV, Mahindra XUV 3XO EV, and similar electric SUVs. Hyundai may offer two battery configurations to address different driving requirements.
In terms of technology, the company has confirmed Level 2 ADAS and a new infotainment interface. Battery cells will initially be sourced from Svolt, while domestically manufactured Exide cells may be introduced in the future.
Official pricing for this SUV has not yet been revealed. However, given its compact positioning, it could be Hyundai’s entry into the affordable EV category.
2. Maruti Suzuki Fronx EV
Maruti Suzuki has prioritized the e-Vitara as its first battery electric vehicle. However, the company may also introduce a smaller and comparatively affordable electric SUV in the future. According to reports, the Fronx could be a possible candidate.
The petrol-powered Fronx has already established its presence in the Indian compact crossover segment. Therefore, its electric derivative could give Maruti Suzuki the opportunity to reach a wider audience in the EV market with a familiar design and established nameplate.
If the Fronx EV enters production, it will likely feature existing crossover styling with an electric drivetrain and a revised interior. It could directly compete with affordable electric models like the Tata Punch EV.
However, Maruti Suzuki has not yet officially confirmed the Fronx EV. Reports have also surfaced regarding the company’s involvement in an electric MPV and a second compact SUV. The electric MPV is also expected to be showcased at the India Mobility Expo 2027.
Currently, confirmed details regarding the Fronx EV’s battery, range, features, and launch timeline are not available.
Also Read: Renault E-Space Concept Revives MPV Design With a 6-Seater Electric Layout
3. Renault Affordable Electric Car
In February 2023, Renault announced an A-segment electric vehicle project for India in partnership with Nissan. Under this plan, both manufacturers were to develop affordable electric cars and conduct local production at their Chennai manufacturing facility.
The project’s primary focus was on domestic manufacturing and extensive localization, enabling competitive pricing by controlling production costs. Localization could be a key factor for entry into the affordable EV segment, as the cost of batteries and other components directly impacts final vehicle pricing.
However, no substantial new information has emerged regarding this project since the announcement. Therefore, the design, battery capacity, driving range, and launch timeline of Renault’s upcoming affordable electric car remain unclear.
If this project progresses, Renault could gain a new opportunity in India’s entry-level electric car segment. For now, this should be viewed as a previously announced project rather than a confirmed upcoming launch.
4. VinFast Affordable Electric Cars
Vietnamese electric vehicle manufacturer VinFast may also be planning to expand its electric vehicle range in India. According to reports, the company is working on two affordable EVs with internal project names: VF X and VF Y.
The VF X is said to be larger than the internationally sold two-door VF 3, but smaller than the VF 6. This could create room for an additional compact electric vehicle in the company’s portfolio.
VinFast is reportedly focusing on an aggressive pricing strategy. The company may try to keep production costs competitive by utilizing local manufacturing in India. However, official details regarding the design, specifications, battery options, and launch schedule of the VF X and VF Y are not yet available.
Entering the affordable EV category could be important for VinFast, as buyers in this segment prioritize running costs, range, and charging convenience over pricing.
Will Competition Increase in the Affordable EV Segment?
India’s electric car market is no longer limited to premium SUVs. Growing demand for affordable hatchbacks and compact electric SUVs is encouraging manufacturers to explore smaller EV projects.
Hyundai’s upcoming compact electric SUV could be an important addition to this segment. For Maruti Suzuki, the Fronx EV could be an opportunity to introduce a familiar crossover nameplate in an electric format. If Renault and VinFast’s projects reach the production stage, buyers could have more options.
However, the final pricing, battery range, and launch timelines for all these models will have to be awaited. Affordable positioning alone will not ensure success; practical driving range, charging network, after-sales support, and ownership cost will be equally important for Indian buyers.
Auto India Daily Verdict
The Upcoming Electric Cars Under Rs. 15 Lakh category could be quite interesting for the Indian EV market in the near future. Hyundai’s compact electric SUV project is the most clearly defined upcoming development, while the Maruti Fronx EV, Renault affordable EV, and VinFast VF X/VF Y are currently in the stage of reports or previously announced plans.
If manufacturers offer practical range, useful features, and reliable after-sales support along with competitive pricing, buyers in the affordable electric car segment could have more choices than ever before. For now, it’s important to keep an eye out for official announcements and launch details on these projects.
Also Read: VinFast VF3: 215 km Range at Around Rs 10 Lakh, MG Comet Faces a New Rival
Khushi Prajapati is an Automotive Content Writer at AutoIndiaDaily, specializing in Indian car launches, vehicle specifications, and market trends. She holds a B.Sc degree in Computer Science and brings over 1.5 years of hands-on experience in the auto sector.