Tata Motors is planning to launch 10 new electric cars in the next five years.
Currently, the automaker has a market share of around 80 percent in the electric car segment.
Tata Motors To Launch 10 New Electric Cars In Next 5 Years
Shailesh Chandra, Tata Motors’ Passenger Vehicles Business President, announced Tata Motors would launch 10 new electric cars in the near future.
Currently, Tata Motors sells two electric vehicles in India: the Tigor EV and Nexon EV. The Tigor starts at Rs 12.49 lakh, while the Nexon starts at Rs 14.99 lakh. The company recently released the Nexon EV MAX, a long-range version of the Nexon EV, and it is claimed to have a range of 437 kilometers.
During a shareholders’ meeting on Monday, Tata Motors’ chairperson Natarajan Chandrasekaran said that by the end of the fiscal year ending March 31, the automaker aims to sell 50,000 electric vehicles.
According to the Chairman, Tata aims to hit 100,000 EV sales in the the 2023/24 period. Notably, Tata produces passenger cars, trucks, vans, coaches, buses, luxury cars, and construction equipment.
Tata Motors Commands 98% of the Indian EV Market.
Tata Motors along with MG Motors, command 98% of the Indian EV market. EV car sales reached a new high of 0.7% of total car sales in the financial year 2021-2022. The Tata Nexon EV became India’s best-selling EV, with a whopping 63% market share.
The Tata Tigor EV came in second place with its new battery and motor, and it captured 24% of the Indian market share.
Tata Motors plans to produce more than 80,000 electric vehicles in the current financial year, which is far ahead of what it produced last year.
Tata Motors unveiled its new electric SUV concept Avinya, which also introduces the company’s latest Gen 3 platform.
Avinya is a Sanskrit word that means innovation, and it is the name of the new concept from Tata Motors. In this new electric vehicle, the company plans to offer several first-to-market technologies and features. Additionally, TPEML debuted its new logo, which shows an LED bar along the front and back of the model and a T in the center.