Tata Motors President N. Chandrasekaran said that Tata Motors will expand its influence in the field of electric vehicles and plans to produce ten pure electric vehicles in less than four years. In its 76th annual report, Chandrasekaran wrote to shareholders: “In India, the penetration rate of electric vehicles in our portfolio has doubled this year to 2%, and we expect it to double in the next few years. By 2025, Tata Motors will have 10 new pure electric vehicles.”
Tata Motors is the country’s largest electric vehicle manufacturer with two pure electric models, Nexon EV and Tigor EV. The electric version of Altroz is expected to be available in the next few months. Since its launch in January 2020, more than 4,000 vehicles have been sold.
Two British luxury car manufacturers, Jaguar and Land Rover, plan to introduce similar alternatives to electric vehicles. In 2025, followed by Land Rover, its goal is to account for 60% of electric vehicle sales by 2030. Tata Group will invest in changing infrastructure and explore battery and battery manufacturing partnerships in India and overseas.
Chandrasekaran added that Tata Motors is considering establishing a software and development department within the Tata Group. “We also value the automotive engineering and software industries within the group to support our entry into the new world of connected and self-driving cars.” Chandrasekaran added: “We understand that the time is ripe for this transition to sustainable mobility. The Tata Group will take action at a certain speed and scale to take advantage of the changing consumer behavior in India and other regions and actively contribute.”
Tata Motors is undergoing the largest restructuring to date, planning to dispose of passenger cars and electrify its namesake brand and Jaguar Land Rover’s product lines. Tata Motors plans to complete the reorganization by the end of the September quarter, also the subsidy program for the automotive business (PV), thereby paving the way for partners.
The PV division that develops, produces, sells, and markets cars, SUVs, and vans is split into a single division, enabling the company to that the shares can be sold to strategic partners.