Tata Motors plans to bring 10 new EVs in domestic market by 20251 min read . Updated: 28 Jun 2021, 09:12 PM IST
Tata Motors' Chairman N Chandrasekaran says that this is an effort to make the business model of the company more sustainable.
- Since the launch of Nexon EV last year, Tata Motors has sold more than 4,000 units of the electric vehicle.
Tata Motors has announced that it plans to add 10 new battery electric vehicles (BEVs) to its domestic product portfolio by 2025. The company's Chairman N Chandrasekaran said that this move aims to make the business model more sustainable. Tata Motors is also exploring tie-ups in cell and battery manufacturing in India as well as Europe to secure supplies for its portfolio of green vehicles.
The penetration of electric vehicle in the company's portfolio has doubled to 2 per cent this year. The automaker has sold over 4,000 units of Nexon EV units since its launch last year. "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 told shareholders in the company's annual report for 2020-21.
He also added that the company is weighing the opportunity to set up an automotive software and engineering vertical within the group that will help the brand to progress towards a world of connected and autonomous vehicles. With a focus on sustainable mobility, Tata Group wants to speed up the process to seize the change in consumer behaviour in India and the world.
Its Jaguar Land Rover brand is also aiming for 100 per cent zero tailpipe emissions by the late 2030s. Jaguar aims to become fully electric by 2025 while 60 per cent of the company's volumes will become full BEV vehicles by 2030.
Chandrasekaran also stressed on business models built on the foundation of environmental sustainability and climate resilience. “To address and leverage these megatrends, we plan to make sustainable business models a bedrock of our strategy," he added.
(With inputs from PTI)