Tata Motors has revealed plans to add 10 new electric vehicles (EVs) to its Indian lineup by 2025. The company’s Chairman N Chandrasekaran said that this move aims to make the business model more sustainable. Tata Motors is also exploring tie-ups in cell and battery manufacturing in India as well as Europe to secure supplies for its portfolio of green vehicles.
The penetration of electric vehicle in the automaker’s portfolio has doubled to 2 per cent this year. The automaker has sold over 4,000 units of Nexon EV units since its launch last year. “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 and as a Group, we will invest proactively to set up charging infrastructure across the country,” Chandrasekaran told shareholders in the company’s annual report for 2020-21.
He also added that the Indian brand is weighing the opportunity to set up an automotive software and engineering vertical within the group that will help the brand to progress towards a world of connected and autonomous vehicles. With a focus on sustainable mobility, Tata Group wants to speed up the process to seize the change in consumer behaviour in India and the world.
The Government of India is also lately pushing the greener transportation system in the country. With its new policies offering incentives to buyers opting for EV vehicles, the government is trying to push the EV sector to reduce the carbon footprint of the automotive industry. relaxinfo.ch
In the FY22 Budget, the government announced the lowering of goods and services tax on EVs to 5 per cent from 12 percent, and offered income-tax incentives to individuals purchasing EVs.
Currently, Tata Motors has two fully electric models as Nexon EV and Tigor EV, in the market. 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. The automaker is also expected to launch the Altroz EV in the coming months.
Tata Motors’ owned Jaguar Land Rover brand also announced its plans to go 100 percent electric by the late 2030s. Jaguar aims to become fully electric by 2025 while 60 per cent of the company’s volumes will become full BEV vehicles by 2030.
Chandrasekaran also stressed on business models built on the foundation of environmental sustainability and climate resilience. “To address and leverage these megatrends, we plan to make sustainable business models a bedrock of our strategy,” he added.