Shailesh Chandra, the Managing Director of Tata Passenger Electric Mobility, expressed confidence for robust charging infrastructure, new product offerings, and ongoing government support will propel India towards achieving a million electric vehicles (EVs) within the next five years.
EVs
Tata Motors, a dominant force with over 80% market share in India’s passenger vehicle EV segment, celebrated a significant milestone of selling over 100,000 electric cars, covering a combined distance of 1.4 billion kilometres on Indian roads in the last five years.
New Products
Chandra stated while their initial foray into EVs five years ago provided them with foundational knowledge, their expertise in EVs has since evolved considerably, making them more confident in zero-emission technology. Tata Motors’ current EV lineup includes the Tiago EV, Nexon EV, Tigor EV, and the fleet-specific Xpres-T EV.
The introduction of the Nexon EV, featuring the ‘Ziptron’ 350V EV architecture, marked a pivotal moment for Tata Motors. Its attributes, spanning size, practicality, driving range, and affordability, bolstered the trust of early adopters and acted as a catalyst for the growth of India’s passenger EV segment, now accounting for 2.5% of the total PV market.
India
Government incentives have played a vital role in accelerating EV sales in India. Measures such as a minimal 5% GST rate on EVs, road tax waivers, state subsidies, and PLI schemes have narrowed the price gap between traditional internal combustion engine (ICE) vehicles and EVs.
To further drive EV adoption, Chandra emphasized the necessity of an expanded charging infrastructure and continuous government backing until EV penetration reaches 20%.
Tata Power, in collaboration with other Tata Group companies, has played a pivotal role in building the charging network. Tata Power has already installed over 100,000 home chargers, 1,200 RWA community chargers, and 6,500 public chargers, with plans to expand this network to over 25,000 stations by 2028.
Conclusion and Government Support
Looking ahead, Chandra’s optimism remains unwavering, predicting with a sustained focus on charging infrastructure, increased product offerings, and government support, India’s passenger vehicle EV market has the potential to achieve a monumental milestone of one million EVs within the next five years.
