Tata Motors Limited is the multinational automotive company, subsidiary of a multinational conglomerate, Tata Group and with the new era for Electric Vehicles, the company plans on launching affordable Electric Vehicles that will probably boost adoption rates in India.
Tata Motors has ambitious plans concerning the future of automobile industry, not just in India but overseas as well. Electric Vehicles is the future and the company aims to provide homegrown and affordable EV cars to initiate Indian adoption.
As mentioned in a report by Times of India, the automotive giant mentions that it plans to price the EVs close to 15% premium as compared to conventional petrol and diesel vehicles. This new range of EVs planned by Tata Motors shall provide a range length of 200km on a single charge.
Tata Motors is placed at the third position in the Indian passenger vehicles market, just behind Hyundai and Maruti. Lately, the company has been making significant gains on its sales with Nexon Compact SUV, Tiago Mini and other products. The demand of these Electric Vehicles in the Indian market has been phenomenal, giving Tata Motors the confidence of entering the market with more affordable EV options for adoption.
Furthermore, Tata Motors was formerly known as Tata Engineering and Locomotive Company Limited or TELCO and owns a manufacturing and assembly units in Pune, Pantnagar, Jamshedpur, Sanand and Dharwad. Other than India, Tata Motors has extended its manufacturing and assembly operations in Thailand, South Africa, Great Britain and Argentina as well.
India is aiming to revolutionise its automobile industry to a more futuristic approach with Electric Vehicles. EVs will save fuel resources and is a solution to vehicle-based pollution in the country which becomes very problematic in crowded places like Delhi NCR and Mumbai.
As we understand that the Indian economy has been severely hit by the COVID-19 pandemic and amid the cold political issues with China, our Prime Minister Narendra Modi has initiated ‘Atmanirbhar India’ campaign that works to make India more self-reliant. Thus, the government is giving a boost to start-ups that are manufacturing in India and is supporting EV adoption in India by providing incentives to battery makers who manufacture in India.
Having said that, Tata Motors is a major third wheel for this EV adoption in the country considering its third-highest position in the automobile market. The automaker claims to have recorded its highest sales volume during the past few months in eight years and moved up on the market share of about 7.7%, says Shailesh Chandra, President, Tata Motors Passenger Vehicles Business Unit, according to a report by Times of India.