‘Reliability, Responsibility, E-mobility' are going to be under one roof. TATA Motors, amid the revolution of Clean Energy Transition, has taken an ultimate step to hand over the 25 % of the business sales to electric vehicles. Despite being a newcomer in the automobile market, the EV segment is storming the hopes for their scope in manufacturing green automobiles in the future.
With aggressive growth plans, TATA Motors has set a target of investing 28,900 cr INR in its domestic business and for JLR in 2021-22. The investment is directed towards hydrogen fuel cell vehicles. The inauguration of the investment plan has been done by Indian Oil with the order of 15 vehicles, which is the trial stage. From 2 %, which is the current share of the EVs in the sales, the target is to bring it up to 25 %.
TATA Motors is striving to generate one-fourth of sales from the EVs to raise a separate domain of capital for the EVs. The launching of one or two EVs every year in the EV series will assist the ambition of attaining at least 10 models in the EV manufacturing portfolio by 2025.
“We have announced the Altroz EV and also, there are other products in the development pipeline. Both our new architectures-Alpha and Omega are electrification ready. We will also keep launching new EVs and also upgrading the existing ones, every year from now on,” said Shailesh Chandra, President, TATA Motors Passenger vehicles Business, commenting on the plans on EVs.
“We had undertaken many steps, like releasing long-term firm schedules released with buffers, reviewing of model combo towards availability, spot-purchases and use of alternate raw materials meeting the specifications. We are working closely with our direct suppliers to identify alternative suppliers,” he added further telling about the steps taken to survive in the long run.
Annual darting of the EVs in the projectile of sustainable manufacturing
There will be the launching of at least 10 vehicles before 2025, with the corresponding capital raise. TATA Motors is working on manufacturing affordable EVs so that a platform can be generated for the EV segment. Not only this, the hawk-eyed company is observant of the EV components. There is also a plan for the setting of a separate battery business outside of TATA motors. For EV charging stations, the company is working with TATA Power and is expanding to at least 25 cities to develop 1, 000 charging stations in the coming years.
The previous year’s investment worth 19, 800 crores INR was also notable to unchain the full potential of every product in the portfolio. But, this year, the investment is 28, 900 crore INR which, two billion pounds is for Jaguar Land Rover and 3,000 to 3,500 crore INR for TATA Motors
It is to be noted that since its launch in early 2020, the Nexon EV has generated sales of more than 4000 units. It is the largest selling electric passenger vehicle in the country. To overcome the challenge of limited charging infrastructure and people’s concern about EV’s range, the company has taken initiatives towards educating customers about different perspectives of charging and driving range of EV. The company is steadily working with TATA Power to expand the charging network.
The coming years are forecasted to be fully electric. EVs are young in the global manufacturing market but still, they are inveiling the hope of e-mobility. TATA Motor’s chart of obtaining 25 % sales from the EV market segment is ensuring the reliability of e-mobility in the automobile sector in the commercial manufacturing sector.
