Tata Motors expects to increase annual production of electric vehicles to 80,000 units as compared to 19,000 units manufactured and sold in the last financial year.
Tata Motors expects to increase annual production of electric vehicles (EVs) to more than 80,000 units this financial year, sources with knowledge of the matter told Reuters.
This is compared to 19,000 EVs manufactured and sold in the last financial year.
India’s largest automaker Tata declined to comment on production plans, but said EV sales are growing rapidly as demand exceeds supply. The sources were not authorized to speak to the media and declined to be identified.
Tata last year announced plans to launch 10 EV models by March 2026, investing around $2 billion on new vehicle architecture, related technology and infrastructure.
Tata accounts for 90% of India’s EV sales – a segment that still represents only 1% of the country’s annual sales of around 3 million vehicles.
On Friday, Tata will unveil a concept car that it plans to build on its first EV platform developed from the ground up.
Cars built on this platform, called Pure EV Architecture, will also be launched in global markets, the company said in its invitation for the unveiling.
The new platform represents the third phase of Tata’s electrification plans, fueled by a $1 billion investment from private equity firm TPG last year.
The first phase was the launch of two EVs, the Nexon SUV and another model for the fleet, which is being built using the existing combustion engine platform.
Phase II calls for modifying a combustion engine platform to manufacture electric vehicles with larger batteries and longer driving ranges. Those cars are expected to hit the market in about two years.
Rolling out more electric vehicles is a cornerstone of Prime Minister Narendra Modi’s carbon reduction agenda, and his administration is offering billions of dollars in incentives to companies to manufacture electric cars and their components locally.
By 2030, India wants electric models to account for 30% of total car sales.
(Reporting by Aditi Shah; Editing by Edwina Gibbs)
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