Tata Motors will lead a change in the Indian market
Electric vehicles have been gaining momentum in the Indian market in recent years as the country is trying to tackle climate change and control its carbon dioxide release in order to control air pollution and global warming.
TATA Motors, one of the leading automakers of EV’s in India has revealed that they plan on launching 10 EV’s in its commercial and passenger vehicle businesses sector in India. It was the company’s chairman who revealed the information as India’s biggest vehicle maker seeks to exploit further the growing domestic market for environmentally-friendly vehicles.
The parent company TATA Sons Ltd I going over opportunities in order to invest in manufacturing the lithium-ion cells required in India and Europe so as to forge a proper supply chain for its zero-emission vehicles in the coming decade said N. Chandrasekaran, who is the chairman of Tata Sons group. Many of the top car manufacturers like Tesla Mercedes and Volvo are all set to release vehicles under the EV segment in the coming years giving stiff competition for the TATA group.
One of the main drawbacks that the EV markets currently face is the price of the cars that are being manufactured. As they are costly people tend to buy them less compared to petrol and diesel vehicles which only costs a few lakhs. Compared to the other carmakers like Tesla the EV’s made by the TATA group are economical as they cost lower than them. TATA’s Nexon EV currently costs around 15 Lakh rupees in India. Whereas cars manufactured by Tesla for example come under the luxury class as it costs 50 lakhs and above.
“In India, EV penetration in our portfolio has doubled to 2% this year, and we expect penetration to increase exponentially in the coming years. Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new BEV (battery electric vehicles), and as a group, we will invest proactively to set up charging infrastructure across the country,” Chandrasekaran said in the company’s annual report for 2020-21.
Chandrasekaran also said that the Tata Sons group is considering the creation of automotive software and engineering vertical within the Tata group so that it would help the company lead in the sphere of connected and autonomous vehicles.
Article source: livemint.com
Image credit: tatamotors.com
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