MUMBAI – Tata Motors on Friday said it plans to launch electric vehicles with a minimum range of 310 miles and advanced technology features, targeting buyers in India and abroad. The first electric vehicles (EVs) built using its new platform should be on the road in 2025, Tata said during an event in Mumbai where it unveiled a five-seater concept model called Avinya.
Tata is trying to position itself with global automakers who are investing billions of dollars to create EVs that meet tough carbon reduction goals.
According to the US company’s website, the Tesla Model 3 EV could have a range of more than 310 miles, and by 2025, industry analysts say it should be closer to the norm.
Tata Motors Chairman N Chandrasekaran said, “We have taken the lead in making all the necessary strategic investments. Our goal is to finally go global.”
While Tata is coming from “behind the scenes” of other car manufacturers, electrification will lead to the push of its globalization, he added.
Chandrasekaran says the Tata Group will soon unveil plans to build battery cells locally and is evaluating the creation of semiconductors at home, all efforts to support its EV Push.
Last year, Tata announced plans to launch 10 EV models by March 2026, investing about $ 2 billion, of which $ 1 billion came from private equity group TPG.
Rolling out EVs at the center of Prime Minister Narendra Modi’s carbon reduction agenda and by 2030, India wants to make 30% of total car sales electric models. Chandrasekharan says he hopes Tata will surpass that target, without giving figures.
Tata plans to increase EV’s annual production to more than 80,000 units this fiscal year, up from 19,000 a year ago, Reuters reported this week.
Automaker accounts for 90% of India’s EV sales – a segment that represents only 1% of the country’s annual 3 million car sales.
For exports, Tata will look for markets where the climate is similar to India’s, Shailesh Chandra, managing director of passenger vehicles and EV subsidiaries, told Reuters on the sidelines of Friday’s event.
“This will be where electrification is increasing, which is large and where there is a supportive policy environment,” he said, adding that the right hand drive markets are a good start.
Vehicles built on the new platform will be agnostic for battery chemistry and battery cell format, giving Tata flexibility depending on the market it launches, Chandra said. Battery density will also be higher and more durable than previous cars.
(Reporting by Aditi Shah; Editing by Barbara Lewis and Alexander Smith)