Today the chairman N Chandrasekaran said that, Tata Motors would accelerate its presence in electric vehicles with plans of having 10 battery electric vehicles in less than four years.
While addressing shareholders in the 76th annual report Chandrasekaran said, “In India, electric vehicle penetration in our portfolio has now doubled to 2 per cent this year and we expect penetration to increase exponentially in the coming years. Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new EV vehicles.”
An homogenous EV change is programmed for two British luxury automakers, Jaguar and Land Rover. Jaguar will become an all-electric luxury brand by 2025 followed by Land Rover which aims to aim 60 per cent of its sales from EVs by 2030.
The Tata Group will invest in fixing up charging infrastructure additionally exploring partnerships in cell and battery manufacturing in India and in foreign countries.
In the annual report Chairman also added that, “As a group we will invest proactively to set up charging infrastructure across the country.”
Chandrasekaran added that “We are also evaluating an automotive software and engineering vertical within the Group that will help us lead in a new world of connected and autonomous vehicles. We are clear that this shift to sustainable mobility is an idea whose time has come”
He also said, “the Tata Group will move forward with speed and scale to seize this and proactively drive the change in consumer behaviour in India and beyond.”
Tata Motors is hoping to complete the subsidiarization program of its passenger vehicle business by the end of the September quarter, paving the way for onboarding a partner.
The PV division which looks into development, manufacture, distribution and sale of cars, SUVs and vans is being hived off into a separate entity allowing the corporate to sell its stake in it to a strategic partner.