Tata Electric Vehicles To Cost Only Up To 20 Percent More Than ICE Cars

Tata Electric Vehicles Altroz EV 7 — The firm is planning to launch more affordable EVs

Tata Motors is planning to launch a series of affordable electric vehicles in the future with a battery range at least in excess of 200 km from a single charge.

Most importantly, the homegrown automaker wants to be cautious about pricing its EVs and says their asking price will be not more than 15-20 percent dearer than its ICE vehicles.

The brand’s Nexon EV was the highest-selling electric car in 2020, with 2529 units of the car getting sold. It holds a 63.2 percent market share, while the Tigor EV achieved 100 unit sales in the same year.

MG Motor’s ZS EV was the second best-selling electric vehicle in India with a 28.5 percent market share (1142 units) in 2020, but it costs a lot more than the Nexon EV, just like the Hyundai Kona Electric (223 units in 2020).

Soon, the number of Tata electric vehicles will grow since the brand is expected to launch the Altroz EV, while the Harrier EV might come later.

According to President of Tata Motors Passenger Vehicles Business Unit, Shailesh Chandra, electric vehicles remain central to the brand’s strategy, especially when it has established itself as the front runner in the EV space.

Chandra said Tata Motors and group companies such as Tata AutoComp, Tata Chemicals and Tata Power, are working on providing a complete ecosystem for buyers of Tata electric vehicles.

Volumes have started to come in, especially as there are practical benefits, he said, explaining that people who drive about 10,000-12,000 km per year will save Rs. 50,000/- a year on operating costs by opting for an EV instead of an ICE vehicle.

In the last month of 2020, Tata sold 23,546 passenger cars and registered a 84 percent growth over the same period a year before. Currently India’s third biggest carmaker, it is confident about recording monthly sales in excess of 22,000 units while reaching 10 percent share soon with new products.