Tata Motors Expects Electric Vehicles To Account For 50% of passenger vehicle sales By 2030
Homegrown Company Tata Motors expects electric vehicles to account for half of its passenger vehicle sales by 2030, according to the company's Annual Report for 2022-23. The company, which has set a target to attain net zero emission by 2040, said it is "spearheading this mission with the support of our Gen 3 EV architecture strategy." "The EV contribution in our portfolio is likely to increase to 25 per cent in 5 years and reach 50 per cent by 2030," the report said.
The company's current EV portfolio comprises the flagship SUV Nexon EV range, Tiago EV, Tigor EV and the XPRES-T EV. It sold 50,043 units of EVs in 2022-23, while its total passenger vehicle sales stood at 5,40,965 units.
Tata Motors said its Tiago EV launched in FY 2022-23 has "accelerated the EV adoption by making it accessible to masses and received strong response with around 10,000 bookings on the first day".
Further, the company said, "We unveiled products across the Gen 2 and Gen 3 architecture with the Harrier EV, Sierra EV, Avinya, which will make EVs more aspirational." Last year, the company announced that it plans to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025.
The company aims to drive in multiple body styles on the AVINYA Concept, which is based on its GEN 3 architecture starting from 2025.