Betting big on electric mobility, Tata Motors is gearing up to roll out models across multiple price ranges as the portfolio is expected to account for more than 30 percent of its total sales by the end of this decade. Domestic vehicles also aim to continue investing in new models with conventional (petrol, diesel) and CNG powertrains as demand is expected to remain strong beyond 2030.
On Tuesday, Tata Motors expanded its electric vehicle portfolio by launching the Tiago EV with introductory prices for the first 10,000 customers in the country. 8.49 to Rs. 11.79 lakh (ex-showroom).
The company said 2,000 units will be reserved for existing owners of Nexon EV and Tigor EV.
Tiago EV is now the most accessible electric passenger vehicle brand in the country and also the most affordable in the company’s electric vehicle range.
Tata Motors has already launched the Tigor EV and Nexon EV in the domestic market at Rs. 12.49 and Rs. 19.84 lakh (ex-showroom). With the launch of Tiago EV, Tata Motors is currently expanding its electric sales network from 90 locations to 165 cities to meet the expected growth in demand.
Talking to PTI, Shailesh Chandra, Managing Director, Passenger Vehicles, Tata Motors said the auto major is deploying a three-pronged architecture approach to roll out a portfolio of ten products for electric vehicles in five years.
The company will have products based on existing nameplates as well as all-new ground-up models to meet the changing needs of customers, he added.
“We will have a product portfolio starting with the Tiago EV and going beyond the Nexon, so we will have these ten products at different price points,” said Chandra.
He hinted that there could also be an electric product between the Tiago and the Nexon.
The automaker sells premium hatchback models like Altroz and Punch that fall in the price range of Tiago and Nexon.
“Everything will come in the space of one to two products every year,” said Chandra.
The company expects to cross 50,000 units in total EV sales this year.
When asked about the company’s product strategy, he noted, “By the end of this decade, the government expects electric passenger vehicle sales to account for 30 percent of total sales. We will exceed that (30 percentage points).”
Last year, Tata Motors announced that it would raise $1 billion (around Rs 8,200 crore) from TPG Rise Climate’s passenger electric vehicle (EV) business in exchange for mandatory convertible preference shares to build a portfolio of EVs and dedicated battery electric vehicles. (BEV) platform.
“After traversing the EV market in India, we believe now is the right time to fast-track the ongoing revolution towards the future of mobility by introducing vehicles that will encourage rapid adoption of EVs,” he said.
Bookings for the model will begin on October 10 and deliveries are expected to start from January next year, he added.
Currently, Nexon EV sales are in the range of 3,000-3,500 units per month, while Tigor EV dispatches are in the range of 1,000-13,00 units, accounting for approximately 20-25 percent of the total sales between the two brands.
The company may also look at a separate service network for electric models going forward.
