Homegrown automaker Tata Motors hopes to hold onto its leadership position in the Indian passenger electric vehicle market by mainstreaming EVs in the nation and growing its current portfolio of five models. Through its EV arm, Tata Passenger Electric Mobility (TPEM), the company currently dominates the market with a significant 73 percent market share by end-FY24.
EVs accounted for over 13 percent of Tata Motors’ total passenger car sales of 582,915 units during the fiscal year, according to TPEM, which recorded overall volumes of 73,833 units in FY24, representing a 48 percent year-over-year gain. The carmaker now wants EVs to account for nearly 30% of its total sales by FY30. Consequently, it plans to invest between Rs 16,000 and Rs 18,000 crore in its EV division by the start of the next decade.
Tata Motors stated in an investor presentation on June 11 that, if needed, it will make this massive investment in its EV sector between FY25 and FY30 in order to meet its future growth ambitions. The company also plans to reach an EBITDA breakeven in TPEM by FY26. Furthermore, the corporation intends to persist in its endeavor to mainstream electric vehicles (EVs) in India by means of various measures, including as the launch of novel models, broadening the reach of EV retail outlets, and cooperating to enhance the nation’s charging infrastructure.
Tata Motors Unveils Ambitious Plan Ten New EVs Set for Launch by FY30
The business plans to launch ten additional EV models by FY30, however it currently only offers the X-Pres-T EV for fleet operators, the Tigor and Tiago EVs for mass-market consumers, and the Punch and Nexon EV for aspirational customers. The first two on the horizon are the Harrier EV, which will be unveiled later in the current fiscal year, and the Tata Curvv mid-size EV. Following the two models will be the Sierra EV and Avinya EV – both slated for introduction in FY26 – between April 2025 to March 2026.
The JLR-derived EMA platform and Acti.ev, two of TPEM’s two entirely new EV platforms, will be used to tackle the main obstacles to increased range and cutting-edge technologies in contemporary EVs. The business claims that in order to create high-performance, efficient, and updatable EVs in the upcoming years, it will utilize more than 3 billion kilometers of driving data from its current EV parc on the roads.
It will include high-energy-density batteries with fast charging capabilities to ease range anxiety, while future models will feature next-generation sophisticated displays with EV-specific UIs as well as connected-car features. Last but not least, the business will prioritize providing customers with cutting-edge driving modes and a range of features like vehicle-to-load and vehicle-to-vehicle EV charging.
To expand EV retail, charging infra
TPEM is optimistic about India’s passenger EV market and believes that the PLI programs, localization, and falling worldwide battery prices will all help the market grow over the next six years. Furthermore, over the course of the next two years, Tata Motors intends to extend its EV-only retail channel,.ev, which was launched in December of last year, to more than 50 significant cities.
The major places with high EV potential that the company has identified are high-EV TIV cities, high-penetration clusters, and high-growth-potential markets like Ahmedabad, Pune, Bengaluru, Chennai, and numerous cities in Kerala. Additionally, it has used micromarket data to pinpoint the locations of its outlets.
In order to promote the installation and establishment of public and community EV chargers throughout India, TPEM will also fortify the country’s infrastructure for charging. While the company has forged profitable partnerships with charging ecosystem players like ChargeZone, Statiq, Glida, Hindustan Petroleum, Bharat Petroleum, and Shell, among others, it still has ambitious plans to expand the network of charging stations from more than 10,000 by the end of 2024 to 100,000 by FY30.
TPEM wants to increase the number of community charging stations by 23 times, from over 4300 by FY24 to over 100,000 by the end of FY30. The company will also leverage synergies between EVs and rooftop solar (RTS) to further drive EV adoption, as well as accelerate its net-zero vision.
In order to enable cutting-edge, highly-localized, and economically viable systems that support the nation’s electrification progress, the company also seeks to foster synergies among the Tata Group companies: JLR for the EMA platform), Agratas for battery security and cost benefits, Tata AutoComp Systems (for localizing EV components), and Tata Power (for establishing public and residential charging infrastructure
