According to Tata Motors, EV sales growth in India is expected to decelerate to 40–45% this year. Two years ago, EV growth began on a shallow base. It grew by almost 100% in the previous year, but the base is currently expanding. At the close of this fiscal year, it is anticipated to be between 90,000 and 1 lakh. I believe the industry’s growth would slow to roughly 40% to 45% on this high base,” Chandra remarked.
Delhi, New: According to a senior corporate official on Wednesday, Tata Motors anticipates that the industry sales growth of electric vehicles in India will reduce to 40–45% this year as the base grows. According to Shailesh Chandra, managing director of Tata Motors Passenger Vehicles Ltd & Tata Passenger Electric Mobility Ltd, the company, made its debut as Punch. ev on Wednesday plans to launch four further EV vehicles this year.
He continued by stating, “It is anticipated to grow at a faster rate than the industry EV growth rate.”EV growth was just getting started on a thin base two years ago. Although the base grew by about 100% in the previous calendar year, it is still rising. By the time the current fiscal year ends, it will be between 90,000 and one lakh. I believe the industry’s growth would slow to 40% and 45% on this high foundation,” Chandra remarked.
Regarding Tata Motors, he stated that the business hopes to outpace the industry growth rate with the launch of five EV models.
In response to a question concerning the percentage of EV sales overall, he stated, “Right now, it’s between 12 and 15%. Thankfully, the number of ICEs (internal combustion engines) is also rising. Thus, the denominator is always fluctuating.”
In total, Tata Motors sold 69,153 electric cars in 2023.
“With every product we launch over the next three years, our goal is to capture 25% of total sales,” he said. There should be a range of 15–17% by 2024.
In addition to Punch. ev, Chandra stated that Tata Motors will introduce the Curvv, Harrier EV, Sierra, and Altroz EV this year; the majority of these are anticipated to go on sale in the second half of the year.
Punch. ev has an introductory price range of INR 10.99 to INR 14.49 lakh. There are two battery pack options available for it: a 25 kWh option that has a range of 315 km and a 35 kWh option that can go 421 km on a single charge.