Tata Motors eyes local battery play as EV competition intensifies: Report
When Agratas, the battery arm of the $165 billion Tata Group, begins production of lithium-ion battery cells in 2026, Tata Motors will have greater control over the most expensive part of an EV.
Tata Motors is betting on locally manufactured EVs to retain its edge in an industry that is seeing increasing competition with new launches, the Group CFO P.B. Balaji told Reuters in an interview.
Tata Group's $1.5 billion initial investment to build a battery gigafactory in India and supply Tata Motors will allow it to further integrate its supply chain, P.B. Balaji told Reuters.
The company's EV market lead reduced to 62% in 2024 from 73% a year ago, as JSW gained market share with its new cars. This year, Mahindra & Mahindra, Hyundai Motor and market leader Maruti Suzuki will also launch EVs in India. Tesla has eyed India too, the newswire noted.
"The work on the entire ecosystem is something that we have. We will be a dominant player in this market," Balaji said on the sidelines of India's car show last week.
When Agratas, the battery arm of the $165 billion Tata Group, begins production of lithium-ion battery cells in 2026, Tata Motors will have greater control over the most expensive part of an EV.
Tata Motors has received $1 billion in funding from U.S. private equity firm TPG and is a beneficiary of India's incentive program for EVs under which it hopes to get about $750 million over the next four years. The first tranche of $17 million has come in, Balaji said.
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23 Jan 2025
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Kiran Murali

Autocar Professional Bureau