In three years, Tata Motors anticipates that 20 percent of its domestic passenger vehicle sales will be made up of electric vehicles, Shailesh Chandra, managing director- passenger vehicles and electric mobility at the company said on the sidelines of SIAM's 62nd annual session in Delhi.
He anticipates that sales of all electric vehicle models offered by the company, including the Nexon and Tigor, will reach 50,000 units this year.
According to Chandra, "Right now, it (electric vehicle penetration) is between 8 and 8.5 percent, and the models in which we have electric, it is about 25 percent." He added that last year Tata Motors ended with close to 5 percent. In comparison, it was 2 percent during fiscal 2021 and about one percent in the year prior to that. In the current fiscal year, he expects the EV share to touch around 10 percent.
Chandra emphasised that although the semiconductor shortage has somewhat subsided recently, it is still not entirely fixed. He went on to say that although there is still a healthy demand for EVs, there are still issues with the supply, particularly with the batteries. He added that the market's "pent up" need had been met and that the current demand was the new one. Across its line-up of passenger cars, the company currently has waiting periods of 3-4 weeks.
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