Tata will offer electric vehicles ranging from Rs 20 lakh to Rs 40 lakh within the next few years.
Tata Motors, India’s largest automobile company by revenue, expects one in every two of its vehicles to be electric by the end of this decade. By 2026, the company will offer a portfolio of 10 electric products in the Indian market, which makes it the market leader in the electric passenger vehicle segment. As a result, the company will be able to offer its EV customers a wide range of options between Rs 10 lakh and Rs 40 lakh.
- The Tata Group plans to test dedicated dealerships for electric vehicles.
- Over 50,000 electric vehicle units will be sold by it in the next few months.
- The EV business at Tata is seeing tremendous interest from investors and customers.
With the Tiago, Tigor, and Nexon as the starting point, Tata Motors is moving up the price ladder, model range, and premiumization in alignment with the growth of the Indian market.
In the next few years, the company will offer electric alternatives such as the Harrier, Curvv, Sierra, and Avinya that range in price from Rs 20 lakh to Rs 40 lakh. And a wide range of vehicle architectures will be supported, including Gen 1, Gen 2, and Gen 3.
In Gen 1, electric vehicles are derived from combustion engines, in Gen 2, they are built from scratch with multi-powertrains, and in Gen 3, they are built exclusively for electric power.
According to Shailesh Chandra, managing director of Tata Passenger Electric Mobility, the company plans to offer products across a wide price range. As our product line moves up, and our average price points move up, we are moving in the right direction. As Nexon has built a decent customer base, we would like to offer an upgrade alternative to its users by creating alternative products such as Sierra, Harrier, and Avinya.”
According to Chandra, the company is on track to meet its volume goals. The company’s EV sales are on track to exceed 50,000 units in the current fiscal year, and volume is expected to double to over 1,00,000 units by FY2024.
Tata EV Retail Outlets On The Way :
In addition to offering EVs at higher prices, Tata Motors will run dedicated electric vehicle outlets as the price points expand. Initially, the company will focus on a select few cities where there is a critical mass for dealers to remain viable. It is expected that the company will eventually expand to more markets as volumes grow.
According to the company, EVs could become an alternative to diesel – in terms of performance – and the cost of an EV could be equivalent to diesel in the future. Tata Motors’ future model line may have varying price points, but Chandra wouldn’t discuss them specifically.
The head of Tata Motors’ electric vehicle business says customers and investors are extremely interested in the company. The result has been a swelling of volumes and valuations, according to experts. Focusing on your customers, creating concepts around their needs, and generating greater numbers of customers will attract investors. We are currently working on 10 products. We didn’t follow a global benchmark when we launched Nexon. We went with what the customer wanted, and it was a huge success. In other words, if you offer products that customers want, the volume will follow, and investors will come on board, explained Chandra.