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Tata Motors Invests Big On Electric Cars: 25% Of Total Sales Will Be Electric Cars!

Tata Motors affirmed on Friday that electric cars (EVs) could make up around 25% of entire passenger vehicle businesses “in the medium to long term,” as it strives to capitalize on the country’s electrification trend.

Tata Motors EV Sales

The chairman of Tata Motors, N Chandrasekaran, announced at the company’s 76th annual general meeting that the company will announce its fundraising plans for the EV industry.

Sales of passenger vehicles (PVs) made up 2% of the company’s total sales of electric vehicles (EVs).

This is certainly a big announcement! Tata Motors has announced that by 2025, it will launch 10 electric vehicles in India.

The Altroz EV will be ready in the market soon. It will be the company’s fourth EV to hit the road. Tiago EV and Tigor EV are the next in series. Furthermore, it will bring more affordable vehicles to target the mass market.

“Tata Motors has a very ambitious plan for EVs. At least 25 percent of our PV sales will come from electric sources in the medium to long term,” Chandrasekaran said. “We will launch 10 EV models before 2025. We have aggressive growth plans, and towards this, we will also raise capital at an appropriate time. The company is also considering to set up a battery plant outside of Tata Motors,” he added.

EVs Charging Stations 

Tata Power plans to install 10,000 charging stations in 25 cities in the following years, he said. In addition, the company is developing hydrogen and fuel cell technology. According to Chandrasekaran, it has seven hydrogen buses in the testing stage and has received the first order of 15 buses from Indian Oil Corp.

“Within PV, the performance of the EV business is particularly noteworthy. We strengthened our market leadership to 71.4 per cent, led by sales of more than 4,000 Nexon EV units since its launch last year,” he said.

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