Tata Motors plans to produce 50,000 EVs in the next fiscal year starting April. The company has sounded out vendors on an assured production plan of 50,000 EVs in fiscal 2023 and scale it up to 125,000-150,000 units annually in the following two years, said several people aware of the matter
“We will be launching one or two products every year, which will be at different price points which will increase affordability. Nexon is our core today, you will see action below Nexon as well as above the product in the coming years,” said Shailesh Chandra, MD. Shailesh Chandra also said that the company will keep expanding into new cities and by adding products to increase accessibility, but he did not share specifics.
Tata Motors sold 350 EVs in FY19, which increased to 1,300 the following fiscal year and to 4,200 in FY21. Its EV volume in the ongoing FY22 is expected to be 17,000-18,000 units. In the first nine months of FY22, Tata Motors sold around 10,000 EVs.
The share of electric vehicles in Tata Motors’ total passenger vehicle volume was 0.2% in fiscal 2020, which has risen to 5.6% in December 2021. At 50,000 units in FY23, this could top 12% of its total targeted volumes.
On potential volume growth, Chandra said: “There is a very strong demand pipeline. We have been getting booking rates of 3,500 a month, I am not even counting the fleet orders.”
TaMo looks to mainstream Evs, eyes 50k sales in FY23
