Tata Motors Powers Ahead: Aims to Dominate India’s Electric Car Market with 60% Share and New EV Launches
Tata Motors, which controls over 60% of India’s electric car market, is planning to boost its lead even further. The company sold 64,217 electric cars in the 2023 financial year, a big jump of 66% from 38,728 units sold the year before.
Plans for Growth
To grow even more, Tata Motors aims to link electric vehicles (EVs) with rooftop solar systems (RTS). The idea is to sell both together, encouraging EV buyers to install RTS. Currently, only 10-15% of Tata’s EV customers use RTS, but the goal is to raise this to 50% by 2030.
Future Products
By the end of the decade, Tata Motors wants to increase its share in both the CNG and EV markets by launching new products, like the iCNG Nexon. They plan to release 10 new EV models by 2026 to make EVs more popular in India.
Jaguar Land Rover (JLR), owned by Tata, will help develop a premium EV called the Avinya using a common platform. Another company, Agratas, will work on battery security and cost benefits to give Tata a competitive edge.
The 3Es Strategy
Tata’s growth plan, called the “3Es” – Expansion, EV Ecosystem, and EV Channel – aims to increase sales and promote electric vehicles across India. They will introduce new models like the Tata Curvv.ev and Harrier.ev by 2025, and the Sierra.ev and Avinya by 2026.
Tata Motors wants to overcome issues like limited range by using technologies called Acti.ev and EMA. They are partnering with companies like Tata Power and ChargeZone to build more public and community chargers.
Expanding EV Presence
Tata plans to expand its reach by opening EV-only stores in 50 cities within the next two years. The locations will be chosen based on detailed local market studies to attract more potential EV buyers.
In summary, Tata Motors is making big moves to stay ahead in India’s electric car market by linking EVs with rooftop solar, launching new models, and building a stronger EV infrastructure across the country.
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