Tata Motors would accelerate its presence in electric vehicles with plans of having 10 battery electric vehicles in less than four years, Chairman, N Chandrasekaran said.
Addressing shareholders in the 76th annual report Chandrasekaran said, “In India, electric vehicle (EV) penetration in our portfolio has now doubled to 2 percent this year and we expect penetration to increase exponentially in the coming years. Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new BEV vehicles.”
Tata Motors is the largest EV player in the country with two fully electric models Nexon EV and Tigor EV - in the market. The electric version of the Altroz is expected to be launched in the coming months. The Nexon EV is India’s best-selling electric passenger vehicle with sales of more than 4,000 units since its launch in January 2020.
A similar EV change is programmed for the two British luxury automakers, Jaguar and Land Rover. Jaguar will become an all-electric luxury brand by 2025 followed by Land Rover which aims to generate 60 percent of its sales from EVs by 2030.
The Tata Group will invest in setting up charging infrastructure in addition to exploring partnerships in cell and battery manufacturing in India and outside.
“As a Group we will invest proactively to set up charging infrastructure across the country. In addition, the Tata Group is actively exploring partnerships in cell and battery manufacturing in India and Europe to secure our supplies of batteries,” Chandrasekaran added.
Chandrasekaran also added that Tata Motors is looking at setting up a software and engineering vertical within the Tata Group.
“We are also evaluating an automotive software and engineering vertical within the Group that will help us lead in a new world of connected and autonomous vehicles. We are clear that this shift to sustainable mobility is an idea whose time has come, and the Tata Group will move forward with speed and scale to seize this and proactively drive the change in consumer behaviour in India and beyond,” Chandrasekaran added.
With plans of hiving off the passenger vehicle business, electrification of model range both under its namesake brand and under Jaguar Land Rover, Tata Motors is undergoing its biggest shake-up ever.
Tata Motors is hoping to complete the subsidiarisation programme of its passenger vehicle (PV) business by the end of the September quarter, paving the way for onboarding a partner.
The PV division which looks into development, manufacture, distribution and sale of cars, SUVs and vans is being hived off into a separate entity allowing the company to sell its stake in it to a strategic partner.
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