Tata Motors expects to aggressively ramp up annual production of electric vehicles (EVs) to more than 80,000 units this financial year. That compares with the 19,000 EVs it built and sold in the last financial year.
Tata, India’s biggest automaker, decline to comment on production plans but said EV sales were growing rapidly with demand outpacing supply.
The sources were not authorise to speak to media and decline to be identified.
Tata last year announce plans to launch 10 EV models by March 2026, investing about $2 billion (approx. Rs. 15325 crore) on new vehicle architecture, relate technology and infrastructure.
Tata accounts for 90% of India’s EV sales, a segment that still only represents 1% of the country’s annual sales of about 3 million vehicles.
Tata will unveil a concept car that it plans to build on its first EV platform develope from the ground up.
Cars built on this platform, call as the Pure EV architecture, will also be launch in global markets.
The new platform represents the third phase of Tata’s electrification plans that have given a boost by a $1 billion (approx. Rs. 7,660) investment from private equity firm TPG last year.
The first phase was the launching of two EVs, the Nexon SUV and another model for fleets, which are being built using an existing combustion engine platform.
The second phase calls for modifying a combustion engine platform to build EVs with bigger batteries and longer driving ranges.
Those cars are expect to hit the market in about two years.
Rolling out more electric vehicles is a cornerstone of Prime Minister Narendra Modi’s carbon reduction agenda, and his administration is offering companies billions of dollars in incentives to build electric cars and their components locally.
By 2030, India wants electric models to make up 30% of total car sales.
