Tata Motors expects to aggressively ramp up annual manufacturing of electrical automobiles (EVs) to greater than 80,000 items this monetary yr, sources with data of the matter advised Reuters.
That compares with the 19,000 EVs it constructed and bought within the final monetary yr.
Tata, India’s largest automaker, declined to touch upon manufacturing plans however mentioned EV gross sales had been rising quickly with demand outpacing provide. The sources weren’t authorised to talk to media and declined to be recognized.
Tata final yr introduced plans to launch 10 EV fashions by March 2026, investing about $2 billion on new automobile structure, associated expertise and infrastructure.
Tata accounts for 90% of India’s EV gross sales – a phase that also solely represents 1% of the nation’s annual gross sales of about 3 million automobiles.
On Friday, Tata will unveil an idea automotive that it plans to construct on its first EV platform developed from the bottom up.
Automobiles constructed on this platform, known as the Pure EV structure, can even be launched in world markets, the corporate mentioned in its invites to the disclosing.
The brand new platform represents the third section of Tata’s electrification plans which were given a lift by a $1 billion funding from non-public fairness agency TPG final yr.
The primary section was the launching of two EVs, the Nexon SUV and one other mannequin for fleets, that are being constructed utilizing an current combustion engine platform.
The second section requires modifying a combustion engine platform to construct EVs with greater batteries and longer driving ranges. These automobiles are anticipated to hit the market in about two years.
Rolling out extra electrical automobiles is a cornerstone of Prime Minister Narendra Modi’s carbon discount agenda, and his administration is providing firms billions of {dollars} in incentives to construct electrical automobiles and their parts domestically.
By 2030, India desires electrical fashions to make up 30% of whole automotive gross sales.
This story has been printed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.
Supply: Live Mint