(Dec 23): Tata Motors Passenger Vehicles Ltd plans to roll out five new electric cars in India by March 2030 and add a million charging points, as the country’s largest EV maker looks to cement its dominance further.
The parent of Jaguar Land Rover Automotive plc is leaning on its recently announced Sierra SUV, luxury brand Avinya and three other yet-to-be announced car models to bolster its electric vehicle (EV) market share to as much as 50%, managing director Shailesh Chandra told reporters in Mumbai on Tuesday.
“We can easily defend this share,” Chandra said. While India’s EV market intensifies due to competition, he said the firm’s strategy of making EVs available across all segments and price points will continue.
The Mumbai-based firm, which has sold 250,000 EVs in India, is looking to launch its luxury offering, Avinya, by the end of 2026. The launch strategy for Avinya is still being finalised, according to Chandra.
The continued push into EVs by Tata Motors PV underscores an attempt to dig in its heels as competition intensifies in the domestic market. India’s largest carmaker Maruti Suzuki India Ltd will soon start selling its first EV while Tesla Inc and VinFast Auto Ltd have just entered the market this year. Rivals like JSW MG Motor India Pvt are also chipping away at its lead in the sector.
In the first eight months of this year, Tata Motors’s EV market share fell to 35% from 59% a year ago, while JSW MG Motor India now makes up 30% versus 25% last year, BloombergNEF wrote in an Oct 3 report. Mahindra & Mahindra Ltd cornered 22.6% as of August, the report added.
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Currently, about 17% of its volumes are from EVs but their contribution to revenue could be as much as 30%, according to Chandra, as new models are rolled out.
Tata Motors PV will expand its sales and service network across India’s smaller towns, he said. The company currently is present in 1,000 Indian cities.
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