Tata Motors to Expand its Electronic Vehicle Business

Latest Updated on 21 February 2023
In order to maintain its position as the Leading Manufacturer of Electric Vehicles in India, Tata Motors wants to expand the number of models in its lineup and the price points at which they are available.

According to Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and its EV Subsidiary, who spoke to Reuters on the sidelines of India's Auto Expo Car show, the automaker will also offer a choice of ranges for its EVs so it can meet the requirements of a wide range of buyers, including shorter ranges for city use.

"Client wants to become more and more unique. Trying to move forward, we'll keep up the growing trend and seek to further integrate our portfolio "Chandra said.

In an effort to further its campaign for clean vehicles, the business displayed 12 automobiles, including five electric versions, and 14 trucks, including ones with hydrogen fuel cells.

Among the vehicles were electric versions of its well-known Harrier and Sierra SUVs as well as a concept car built on its next New Electric Vehicle Platform, which Chandra said will be unveiled in the latter half of 2025.

Tata dominates the EV Industry in India with sales of 50,000 vehicles, supported by government subsidies and high import duties, and has declared ambitions to launch 10 electric models by March 2026.

With just 1% of the approximately 3 million cars sold in India each year being electric models, the country's auto sector is minuscule by comparison to its population. Nevertheless, the government hopes to increase this percentage to 30% by 2030.

"India will make the switch to electric mobility much more quickly than we expect. We are certain that we followed the ideal course of action, "On the event, Tata Motors Chairman N Chandrasekaran stated.

Working with other Tata Group Companies like Tata AutoComp, which provides EV parts like Batteries and Motors, and Tata Power, which is installing charge stations in towns and along highways, has also helped Tata Motors' leadership position.

According to Chandra, the manufacturer is investigating chances to create and source more components locally, including battery cells and motors, and is also researching possible export markets for its electric vehicles.

Third-Largest Manufacturer in India, Tata, raised $1 billion from TPG in 2021 for its EV Business at a $9 billion price. Chandra said that it presently has enough money to cover its expansion requirements.

Last Updated on 14 October 2021

As the awareness around climate change increases amongst the general public; people have slowly started adopting the idea of the electric vehicles rather than the traditional petrol/diesel vehicle. This became more evident when last month Ola sold e-scooters worth 1,100 crores. The sale was unexpected for the Indian market which hasn't been that receptive towards electric vehicles. The massive sale has shown to industrialists that India is a huge market for electric vehicles and it's time to tap that market. The first amongst major Indian companies to take a step forward in this direction is Tata Motors.

After receiving a $1 billion investment from TPG and Abu Dhabi state holding company ADQ for Tata Motors' EV Manufacturing. Tata has agreed to form a separate unit for its EV manufacturing. This will see a huge surge in the number of electric vehicles in the Indian Market. People would have a lot more options in EV to choose from. One of the biggest pushbacks for EV in India has been the lack of good design and options. Also, the high price of such vehicles has stopped people from investing in them. Hopefully, Tata's would tackle all these issues with their EV manufacturing and produce budget vehicles. When it comes to cars, Indians mostly like to spend somewhere between 2-5 lakhs, and any car that exceeds this bracket has difficulty in finding buyers.