Electric vehicles (EVs) are approaching a decisive cost inflection point in India, with some models nearing price parity with internal combustion engine (ICE) cars, according to Anand Kulkarni, Chief Products Officer and Head of HV Programs and Customer Service, Tata Passenger Electric Mobility Ltd.
“From a technology perspective, we are clearly at an important inflection point,” Kulkarni said. “Battery technology is improving rapidly. We now have more energy-dense batteries, faster charging, and better safety and reliability.”
He noted that the gains extend beyond battery chemistry. Greater integration of propulsion components — including the motor, inverter, onboard charger, and power electronics — is reducing weight and improving packaging efficiency.
“Earlier these were separate units. Then they became 3-in-1 systems. Now integration is going even further. The weight savings can be redeployed to increase battery capacity, improving range without major chassis changes,” he explained.
With global battery prices softening and integration improving, Tata expects EVs to offer better range and performance at comparable prices. “We are moving closer to price parity with ICE vehicles in some cases within 10%. If we solve this effectively at the entry level, it opens a massive opportunity for adoption,” Kulkarni added.
Rs 10L segment central to strategy
The sub Rs 10 lakh segment, which accounts for the bulk of India’s passenger vehicle volumes, is central to Tata’s strategy.
The company recently refreshed the Punch EV with a battery-as-a-service (BaaS) option, lowering the entry price to Rs 6.94 lakh to attract first-time EV buyers.
Other models in the affordable bracket include the Tiago EV and Comet EV.“The biggest opportunity lies in the sub-Rs 10 lakh segment. We need credible EVs at that price with a practical range for families to use as their primary car,” Kulkarni said. “If EVs are accessible, affordable, and practical, adoption will accelerate naturally.”
While battery cells are still imported, Tata Motors assembles and designs packs locally, with rising localisation in enclosures and cooling systems. As costs decline and technology matures, the company believes narrowing the ICE–EV price gap in the mass market will mark a tipping point in India’s EV transition.