Tata Motors will launch the refreshed Punch EV on February 20, as it looks to claw back electric vehicle (EV) market share, which currently stands at around 46%. Speaking on the sidelines of the company’s Q3 results announcement, Shailesh Chandra, MD and CEO, Tata Motors Passenger Vehicles, said competition in the EV segment has intensified, with 70–75% of market growth now driven by new launches. “We did see a market share dip earlier, but we are gradually clawing back and are now at around 46%, after falling to nearly 36% at the low point,” he said.
Chandra said Tata Motors is betting on a wide EV price band, from about ₹8 lakh to nearly ₹30 lakh to protect volumes and remain resilient across demand cycles. He added that each product would be continuously upgraded to improve range and pricing parity, which he said is critical to driving volumes in a competitive market.
Pricing Parity and Portfolio Depth
Beyond the Punch EV, Tata Motors has lined up multiple EV launches, including the Sierra EV, with additional models planned in the next financial year. However, launch timelines are being closely aligned with production readiness. Chandra said bookings for the Sierra are extremely strong, potentially in six-digit territory, but the immediate focus is on ramping up supply. The company is working closely with suppliers to secure critical components, particularly powertrain castings.
Strong demand for the Sierra and Nexon, both produced at the same facility, has pushed Tata Motors to evaluate capacity expansion and debottlenecking measures. “There are supply-side constraints across the industry, not just for us,” Chandra said, adding that efforts are underway to extract more output from existing plants.
Operational Overdrive
To support faster EV adoption, Tata Motors is also expanding its charging network across cities and highways, positioning infrastructure as a key enabler alongside a steady cadence of new product launches.
