10 electric cars in next 5 years: Tata to expand EV lineup beyond Nexon, Tigor2 min read . Updated: 13 Oct 2021, 11:20 AM IST
Tata Motors on Tuesday said it will raise ₹7,500 crore in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to 9.1 billion dollars.
Tata Motors is all set to launch 10 more electric cars in India in the next five years after the carmaker plans to raise ₹7,500 crore to boost its EV business. Out of the 10 EVs, Tata plans to launch at least seven in the next four years.
The carmaker recently announced it now has 10,000 customers for its electric vehicles in the country. It currently has about 70 per cent market share in the electric passenger vehicle segment in India.
The Nexon EV was first launched in January of 2020 and gets Ziptron technology for a better drive performance. While Tigor EV was also made available for fleet operations, the 2021 Tigor EV with Ziptron was launched last month for individual buyers.
Nexon EV, priced from ₹14 lakh, has a range of 312 kms. The Tigor EV has a smaller range of about 306 kms and is the most affordable EV in India at a price of ₹12 lakh.
Tata Motors recently announced the commercial launch of its first electric sedan under the XPRES brand – the Xpres-T EV, starting at ₹9.54 lakh (ex-showroom). The electric sedan gets two sets of battery pack, one of 21.5 kWh and the other of 16.5 kWh. It offers range between 213 kms and 165 kms on single charge.
Jaguar Land Rover, the premium car brand owned by Tata Motors, also plans to launch at least six new electric Land Rover SUVs in the next five years. Jaguar has already announced that it aims to be an all-electric brand from 2025.