New Delhi, Dec 23 (PTI) Tata Motors Passenger Vehicles (TMPV) on Tuesday said it will roll out five new electric vehicle models, including the premium product range Avinya by FY30 as it looks to retain
a dominant market share of 45-50 per cent in the segment which continues to expand in the country.
The company said it plans to invest Rs 16,000-18,000 crore in the EV business by FY30 including products and taking charging infrastructure to over 10 lakh points across the country.
"As EV adoption accelerates, our commitment remains clear: to mainstream electric mobility by making it accessible across segments, strengthening the ecosystem, and investing in India-first technology and localization. This is how we will continue to lead India's growing EV market," TMPV MD and CEO Shailesh Chandra said.
TMPV commands a dominant share, accounting for nearly two-thirds (66 per cent) of all electric passenger vehicles sold in India.
The company has the country's largest EV portfolio for personal mobility - Tiago.ev, Punch.ev, Nexon.ev, Curvv.ev and Harrier.ev - along with the XPRES-T EV for the fleet segment.
"We'll make EVs available at all segments to drive further mainstream adoption of EVs," Chandra said.
He noted that the company will introduce Sierra.ev and new Punch.ev next year.
"And by the end of 2026, we will launch the much awaited premium range of EVs - Avinya. By FY30, we'll bring five new EV nameplates, including Sierra and Avinya, along with multiple updates and refreshes for the existing models," Chandra said.
As the company expands its portfolio, it will strengthen the mainstreaming approach by doubling down on the ecosystem actions, including investing in the charging ecosystem and other enablers to bring EVs into the consideration of more mainstream buyers, he added.
"To support all the product and mainstreaming actions, we have announced a capex commitment of Rs 16,000 to Rs 18,000 crore between FY 25 to FY 30, which will help us strengthen leadership, expand our EV portfolio and accelerate the mainstreaming of electric mobility in India," Chandra said.
"And through these actions, we believe a steady state EV market share of 45 to 50 per cent is achievable for us, even in our intensely fought market," he added.
Tata Motors has surpassed sales of 2.5 lakh EVs till date. PTI MSS ANU
ANU
