When you think of India’s electric vehicle (EV) revolution, Tata Motors inevitably takes the spotlight. Their journey in the EV domain offers many insights.
Here’s a breakdown:
1. Sales Surge: Tata Motors recorded an impressive EV sales figure in FY2022 with 19,106 units. But they didn’t stop there. Sales soared by 150% to 47,792 units in FY2023. Between April and August 2023 alone, they sold 31,911 EVs. With such momentum, they could easily surpass the 85,000-unit mark by the end of FY2024.
2. Leading the Pack: The early bird does get the worm! Their proactive entry into the EV market earned Tata Motors a dominating 84% market share in FY2022. Even with the onset of competition, they maintained a robust 74.61% share from January to August 2023.
Harrier EV Concept was showcased at the Auto Expo 2023. Scheduled to go on sale in 2024.
3. Diverse EV Line-up: Their EV range boasts offerings like the Nexon EV, Tigor EV, Xpres-T EV, Tiago EV, and the Nexon EV Max. Among these, customers especially love the Nexon EV. Tata Motors already has plans in the pipeline, aiming to roll out 10 distinct EV models by 2026.
4. EVs Take Center Stage: The increasing appeal of EVs shines through in Tata Motors’ sales figures. Their EV penetration in passenger vehicle sales hit an impressive 13.63% from April to August 2023. The vision? Make EVs 50% of their portfolio by 2030.
Future Ready
5. Ready for Tomorrow: Exciting times lie ahead. Tata Motors recently unveiled the new Nexon EV. But they’re not stopping there; they’re launching the Punch EV soon. Their showcases at Auto Expo 2023, including the Harrier EV and Sierra EV concepts, hint at more innovations to come. They’re also investing a whopping US$ 2 billion in their EV business over the next five years.
6. Expanding Horizons: A strategic move, Tata Motors acquired Ford India’s plant in Sanand, Gujarat. This will substantially boost their manufacturing prowess.
Another EV Concept Avinya was showcased at the AutoExpo 2023
7. Charging Ahead: Their sister concern, Tata Power, is on a mission. They’re setting up about 7,000 charging points in FY2024, with an ambitious goal of 25,000 charging points by FY2028.
Wide Reach
8. Widening Reach: Tata Motors is ensuring their EVs are available everywhere. They’ve expanded from 51 cities in FY2021 to a massive 165 cities now. Their dealership collaborations have grown from 97 in FY2021 to 250, offering customers easy access to their EV range.
9. Strengthening Alliances: Collaborations are the key. Tata Motors collaborates extensively with other Tata Group entities, like Tata Power and Tata Chemicals. Such partnerships have fortified Tata Motors’ position in the EV realm.
10. Going Local: They’re focusing on making EVs that resonate with India. Tata Motors is localizing key EV components, from battery packs to motors, ensuring they cater perfectly to Indian requirements.
Conclusion
In essence, Tata Motors isn’t just participating in the EV revolution; they’re leading it. Their proactive approach, coupled with innovative strategies, ensures that they’re not just ready for the future – they’re defining it.
