Tata Motors Sets Sights on 4-6% Surge in Passenger Vehicle Market Share by 2030

Tata Motors, the third largest passenger vehicle maker in India, plans to increase its market share from the current 14% to 18%-20% by the end of the decade. The company shared its strategy at an investor presentation on Tuesday. It intends to achieve this growth by introducing new car models in both internal combustion engine (ICE) and electric vehicle (EV) segments.

To boost the adoption of EVs and meet its target of having EVs contribute 20% to its total PV sales by FY30, Tata Motors will focus on products, technology, accessibility, charging infrastructure, and costs.

The company aims to outpace the industry growth by launching new car models and transitioning to new powertrains. Despite the expected slow growth in car sales in both ICE and electric segments, Tata Motors believes that its expanded product portfolio will capture 80% of the market.

Expansion of EV Models

Tata Motors also aims for 10% earnings before interest tax, depreciation, and amortization (EBITDA) and positive free cash flow for its consolidated passenger vehicle and EV business by 2030.

To promote the adoption of EVs, Tata Motors plans to launch new EV models like the Curvv.ev and Harrier.ev Sierra.ev in FY25 and FY26, addressing key concerns such as range and technology. It also plans to increase the number of EV-exclusive showrooms and public charging points significantly by FY30.

To enhance the charging infrastructure, Tata Motors plans to increase the number of public charging points and leverage synergies with other Tata Group companies like JLR, Agartas, Tata AutoComp Systems, and Tata Power for access to advanced technologies and cost benefits.

Overall, Tata Motors is focused on expanding its market share and promoting EV adoption through a multi-faceted strategy involving product innovation, technology advancement, and infrastructure development.