Tata Motors is betting big on electric cars. It is the largest electric car marque in the country. It converted its top-selling cars into EVs to leverage their popularity. As a result, customers flocked to buy the Nexon EV, Tiago EV and Tigor EV. In fact, Nexon EV holds over 70% EV market share in India. This is a testament to its popularity and success. Going forward, Tata even plans to introduce the electric version of the Punch micro SUV and Altroz premium hatchback. Here are the details of the latest statement from Tata Motors about EVs.
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Tata Motors Electric Cars
Tata Motors Chairman, Chandrasekaran addressed the shareholders at the recent 78th AGM by saying, “We believe that Tata Motors India passenger vehicles will have 50% of electric vehicles penetration and 65% of JLR vehicles by 2030 on green technology. Currently, we don’t have any plans for Hybrid, we are focused on EV, on CVs, on heavy trucks, we will have hydrogen trucks.” This clearly indicates that going forward, Tata plans to have electrified vehicles across its portfolio which consists not only of Passenger Vehicles but also Commercial Vehicles like heavy trucks.
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50% EV Sales by 2030
In all fairness, it is not that hard to believe that Tata Motors can achieve this. Had it been any other carmaker, we would’ve had our reservations about such tall claims. But it is the leading EV maker in the country by a mile. Moreover, there are new EVs coming soon including Punch EV, Altroz EV and CURVV EV. Therefore, the Indian auto giant has positioned itself quite appropriately in this space to enable a future with electrified cars as their main business. Hence, will might actually see a 50% EV share in sales from Tata Motors by 2030.
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What We Think
There is no doubt that Tata Motors are planning smartly to ensure that they remain at the top of this EV revolution in India in years to come. Moreover, it has all the subsidiaries in place to take care of the entire EV cycle and components. This includes EV production, battery development, battery manufacturing, battery technology and more. These subsidiaries include Tata Agratas, Tata Power, Tata AutoComp and other local vendors. We shall wait to see how things pan out not just for Tata Motors, but for the entire industry.
