N Chandrasekaran the chairman of Tata Motors said that they would like to accelerate their presence in the electric vehicles segment for which they have plans of have 10 battery electric vehicles in less than four years of time period.
In the speech addressing towards the shareholders during the 76th annual reports the chairman said that, in India the electric vehicle penetration in their portfolio has now doubled to around 2% this year and they are expecting the penetration to increase exponentially in the upcoming years. Tata motors wants to lead this change in the India automotive markets.
Currently Tata Motors is the largest electronic vehicle player in the country with two fully electronic vehicles that is Nexon EV and Tigor EV. Nexon currently holds the title of best selling electric passenger vehicle with sale of more than 4000 units since it was launched in January 2020.
Later there were two similar changes which were programmed from the two British luxury automakers that is Jaguar and land rover. Jaguar will become an electric luxury brand by the year 2025 followed by land rover which is aiming to generate 60% of its sale from electric vehicles by the year 2030
The Tata Group will be investing in setting up charging infrastructure in addition to exploring partnerships in cell and battery manufacturing companies in India and also outside India.
The German also added that Tata motors is looking to set up a software engineering vertical within the Tata group. With plans of hiving of the passenger vehicle business electrification of model range both under its namesake brand and under Jaguar and land rover Tata motors will be undergoing its biggest shakeup ever.
Tata motor wants to complete the subsidiarisation program of its passenger electric vehicle business by the end of September quarter 2021.