JLR, which hopes to boost its EV share to 30–40% in the next years, is working to offer more EV products Tata Motors’ MD, Shailesh Chandra, will gain a lot from the synergy between PV and EV industry. By FY 2030, indigenous automaker Tata Motors anticipates that India’s passenger vehicle market would have grown by 60 lakh units. By doing this, the automaker has also disclosed its intention to sell about 12 lakh PV units a year by the end of this decade, capturing 18–20% of the Indian PV market.
The corporation held a 13.9% market share in cars in India as of the end of the past fiscal year. Shailesh Chandra, the managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, the company is implementing a multifaceted strategy to meet its target by the end of this decade.
According to reports, the top official at Tata Motors stated that the company is preparing to introduce a variety of new vehicles, including electric and conventional cars with diesel and petrol engines.
TATA Motors’ target in upcoming years
In the coming years, Tata Motors will see electric vehicles as a major development driver for both itself and the Indian passenger vehicle market.
Thanks to models such as the Nexon EV, Punch EV, Tigor EV, and Tiago EV, the automaker presently has the majority of the market share in the Indian electric PV industry.
This domination is what the car major seeks to maintain. In fact, by FY2030, the business hopes to have electric vehicles account for 30–40% of total PV sales.
The company intends to invest approximately ₹18,000 crore in its electric vehicle business over the next five to six years in order to achieve that goal, which will ultimately support both its aspiration for EVs and a larger market share in PV.
