Following phenomenal EV sales growth in FY22, Tata Motors has even more ambitious goals for EV production in FY23
A Reuters report sheds light on Tata Motors’ ambitious EV plans for the current fiscal. Sources say the auto manufacturer has a production target of 80k units for the current fiscal. This is vastly magnified from the 19k units sold in the fiscal just concluded.
This would help meet demand. The volume estimate for FY23 is larger than life but provides an insight into the enquiries and interest Tata Motors EVs are receiving. As it stands, Tata leads from the front where EVs being sold in India are concerned. This scene however would get a lot more interesting and competitive once a larger number of manufacturers sell EVs here. More importantly, they need to be affordable.
Electric cars, fleet and buses
Tata Motors currently accounts for over 90 percent of all EVs sold here. Earlier in the month, Tata Curvv concept was showcased. This week itself, Tata further strengthened its EV journey by announcing a sizable order for EV fleet cars. The same market penetration is being seen where electric buses are concerned. This will see Tata fulfill an order worth 5 crores for 5,450 electric buses.
In its EV journey forward, Tata is leaving no stone unturned. And having seen results being an early mover, it’s only expected that Tata will continue to strike while the iron’s hot. While electric car sales only make up a very small percentage of total car sales here, these numbers are expected to have a bigger impact by the turn of the decade. Late in 2021, Tata announced its future EV plans. This includes 10 new EVs by 2026.
Currently its electric passenger car lineup consists of Nexon EV and Tigor EV. Soon, they will launch long range version of both Nexon as well as Tigor. Apart from that, Tata is also likely to launch electric versions of Altroz and Punch this year. EV versions of Nexon, Tigor, Altroz and Punch are likely to help Tata achieve their aim of 80,000 electric car sales in FY 2023.
The company has a new electric car concept unveiling scheduled for today. This will be their first car built on the ground up EV platform. These new gen all-electric Tata cars will be built on PURE EV architecture. It will be a modular platform, which will deliver cars in various shapes and sizes, as well as battery capacities.
Pure EV architecture
Until now, Tata’s EVs haven’t been built from the ground up. Nexon and Tigor, and its EV fleet offering are a derivation of existing ICE platform cars. The recently shown Curvv is built on a Gen 2 platform that’s capable of supporting a range of electric powertrains. This would support ICE and electric powertrain options. Which would mean, Curvv when in production would be available first as an electric vehicle, and then in ICE variants. But that is going to change soon.
Tata is ready to build on its first EV only platform called Pure EV architecture. Last year, a billion dollar investment was made by TPG. While today’s global unveiling will further strengthen Tata’s EV goals, the manufacturer is already on the leading track as of now. Currently, India targets 30 percent electric car penetration of total cars sold by 2030.