EVs to constitute 50% of the portfolio by 2030: Tata Motors

With a lion’s share of over 85 percent in electric passenger vehicle space, the homegrown auto major Tata Motors is confident of maintaining the lead in the country's EV space, as per Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. 

In the Annual Report 2022-2023, the company highlighted its plan to increase EV contribution in its portfolio to 25 percent over the next five years and reach 50 percent by 2030. 

The company is leading the EV race with three models Nexon EV, Tigor EV and the recently launched Tiago EV. With an aim to attain net zero emission by 2040, Tata Motors unveiled products across the Gen 2 and Gen 3 architecture with the Harrier EV, Sierra EV, and Avinya, which will make EVs more aspirational.

According to Chandra, the company intends to sustain its momentum with several new vehicle launches, enhancements, and upgrades in FY24.

"Going forward, I expect overall demand to remain high in FY 2023-24, but with industry growth moderating. We will continue to lead the EV charge and create a distinct identity and experience for better engagement with customers," Chandra said in the latest Annual Report. 

At the Auto Expo 2023, the company unveiled 12 models, including both EV and ICE, that will shape the future of passenger mobility in the years ahead. On the EV front, it presented the company's 3-phase strategy with the unveiling of the concept Curvv, Second Gen EV based on a Multi Energy Platform, and Avinya, Third Gen EV developed on an optimised, dedicated EV platform.

"To support our EV growth journey, we strengthened our collaboration with Tata Power and scaled-up public charging infra by about 1.9X, to approximately 3,800 chargers in priority geographies across the country," Chandra added. 

In addition, he further said, over 900 common charging points were installed in residential complexes across 5 metro cities, and home charging expanded to 170+ cities to enhance customer convenience and experience.

“Tata Motors is emerging stronger after many challenging years and will remain focused on meeting its financial commitments while sowing the seeds for a greener future,” N Chandrasekaran, Chairman, Tata Sons said in the annual report.