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Tata Motors anticipates that 20% of its total sales of passenger vehicles in domestic markets will come from EVs within the next 3 years, according to a senior company official.
The company has electric models like the Nexon EV or Tigor EV. It expects to reach 50,000 units in total EV sales by the end of this year.
It is also working to develop flex fuels. By 2025, its product portfolio will be E20 (20% ethanol) compliant.
Managing director of Tata Motors Passenger Vehicles, and Tata Passenger Electric Mobility, Shailesh Chandra stated at the SIAM annual session, “Right now, electric vehicles penetration is between 8-8.5% and the models in which it has electric, it’s roughly 25%.”
Last year we finished at 5%. He said that before that, we had been at 2% and that the year before that was at 1%.
The company anticipates that it will reach the 10% mark in the current fiscal year.
He said that he sees EV penetration in the passenger vehicle portfolio of the company as reaching 20% within three years. Chandra stated that the demand for EVs is strong and that the supply chain challenges are the most significant.
He said that the problem of semiconductor shortage was under control, but not yet fully solved. Chandra stated that the company is seeing new demand for its vehicles and that pent-up demand is over.
Tata Motors has a waiting period of between 4 weeks and 3 months for its passenger vehicle portfolio.