EVs To Make Up 25 Percent Of Tata’s Total Sales In The Long Term
Published On Aug 03, 2021 08:00 AM By Sonny
It will be introducing 10 new EVs by 2025
EVs currently account for 2 percent of Tata’s total sales.
The company has plans for EVs to account for 25 percent of its sales in the medium to long term.
Tata Nexon EV is currently the best-selling EV in India.
The company will be raising capital for its EV lineup specifically.
Tata Motors has enjoyed the most success in the EV segment in India so far thanks to the popularity of the Nexon EV. The company Chairman N Chandrasekaran is aiming to achieve at least 25 percent of its sales from EVs in the medium to long term, compared to the current share of 2 percent.
"We will be launching at least 10 models before 2025. So, we have aggressive growth plans and towards that we will also do a capital raise for the EV segment alone at the appropriate time," Chandrasekaran said.
Also read: Tata Will Launch 10 New EVs By 2025
The Nexon EV sub-4m SUV has already become the best selling EV in the country with its combination of affordability and a practical range. In June alone, the Nexon EV reached a tally of 650 units. It claims upto 312km from a single charge and is priced from Rs 13.99 lakh (ex-showroom, Delhi). Tata already has more affordable EVs in the works based on the Altroz, HBX micro SUV and maybe even the Harrier. Its other EV offering is based on the Tigor sub-4m sedan which is primarily aimed at fleet buyers for the time being, but it could be updated to appeal to regular buyers as well.
Tata is not putting all bets on electric vehicles only but it is investing in hydrogen fuel cell vehicles as well. It is still exploring the potential of hydrogen fuelled vehicles for both commercial and passenger segments.
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