The pace of growth in electric vehicle (EV) adoption will outpace our imagination requiring sustained investments that Tata Motors is ready to make said N Chandrasekaran, Chairman, Tata Sons at the 16th edition of the India Auto Expo.
Tata Motors which carved out separate entities for focussing on the EV space and invite investments from outside, has a near-monopoly in the passenger electric vehicle space with a share exceeding 80%. It’s commercial vehicle division this week started deliveries of the electric version of it’s most popular small commercial vehicle.
“We had successful launches in the 3-4 years in the PV space. The transition of electric mobility will happen much faster than what we could imagine,” Chandra said.
At the stand alone level, Tata Motors has committed investments of ₹15,000 crore only in the passenger electric vehicle space offering multiple new products on existing and new vehicle platforms.
“Our investments in the EV space will be significant so that we can accelerate not only with the transition to electric mobility but give customer world class products, ” Chandra added.
Tata Motors currently has the Nexon EV as its top selling EV followed by the Tigor EV. It recently launches the Tiago EV which became its first all-model priced under ₹10 lakh.
The company has lined up further launches in the EV space which includes Harrier EV, Punch EV and Altroz EV. There will also be new generation product such as the Curvv and Avinya.
The Tata Group is tapping into group entities to support its drive into the EV space. Tata Power for instance is aiding in setting up the charging network while Tata Auto Comp is supplying components for EVs. The group is also looking at making EV batteries in India to complete the supply chain.
