‘Tata Motors to have 10 new electric vehicles in portfolio by 2025’
Tata Motors Group is in the process of pivoting its underlying business model towards sustainable mobility.
New Delhi: Tata Motors plans to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025 as it looks to drive its business model towards sustainable mobility going ahead, as per Tata Motors Chairman N Chandrasekaran.
In his message to the shareholders, he noted that the auto major aims to be amongst the world leaders in sustainable mobility solutions and as part of that it is also exploring tie-ups in cell and battery manufacturing to secure supplies for its portfolio of green vehicles.
“In India, EV penetration in our portfolio has now doubled to 2 per cent 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 vehicles and as a Group, we will invest proactively to set up charging infrastructure across the country,” Chandrasekaran informed shareholders in the company’s Annual Report for 2020-21.
In addition, the Tata Group is exploring partnerships in cell and battery manufacturing in India and Europe to secure our supplies of batteries, he added.
“We are also evaluating an automotive software and engineering vertical within the Group that will help us lead in a new world of connected and autonomous vehicles,” Chandrasekaran said.
Tata Motors Group is in the process of pivoting its underlying business model towards sustainable mobility. Jaguar Land Rover is targeting 100 per cent zero tailpipe emissions for the portfolio it sells by 2036.
Jaguar will become fully electric by 2025 while 60 per cent of Jaguar Land Rover’s volumes will be pure BEV vehicles by 2030.
“Globally, greater emphasis and scrutiny will be placed on building environmental sustainability and climate resilience into the very core of business models. To address and leverage these megatrends, we plan to make sustainable business models a bedrock of our strategy,” Chandrasekaran noted.
The auto major has sold over 4,000 units of Nexon EV units since its launch last year. Tata Motors also sells Tigor compact sedan to fleet operators.
On the business outlook, Chandrasekaran noted that in the near term the impact of the Covid-19 pandemic is expected to gradually recede as more people get vaccinated.
“We expect demand to remain strong with consumer preferences shifting further towards personal mobility. However, the supply situation is expected to be adversely impacted for the next few months due to disruptions from COVID-19 lockdowns in India and semiconductor shortages worldwide,” he stated.
In the 2020-21 fiscal, the company reported its highest-ever annual sales in eight years in the passenger vehicles segment helping its market share to grow to 8.2 per cent.
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