Tata Motors to launch 10 EVs in India by 2025
In a bid to boost sustainability, Tata Motors is planning to launch 10 new battery electric vehicles (BEVs) across the commercial and passenger vehicle segments in India by 2025. The company also aims to invest in the manufacturing of Lithium-ion cells in India and Europe, so that a supply chain can be created for its green vehicles. Here are more details.
"In India, EV penetration in our portfolio has doubled to 2% this year, and we expect penetration to increase exponentially in the coming years," said N Chandrasekaran, the chairman of Tata Sons. "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."
Emphasizing on business models built on the foundation of climate resilience and environmental sustainability, Chandrasekaran said, "To address and leverage these megatrends, we plan to make sustainable business models a bedrock of our strategy."
Tata Sons is considering the possibility of creating an automotive engineering and software vertical that will help it lead in the fast-growing segment of connected and autonomous vehicles. Its Jaguar Land Rover brand aims to bring tailpipe emissions to zero by 2036. It will become fully electric by 2025 and EVs will form 60% of its annual sales by 2030.
Tata Motors' growth momentum is expected to take a hit soon as production will be affected by the prevailing global shortage of semi-conductor parts. They form a key component in vehicles nowadays. In India, the company showed signs of revival in the second half of the last fiscal. However, the second wave of the COVID-19 pandemic hit the company's commercial vehicle business.