The auto major on Friday (9 September 2022) said it remains committed towards realizing the vision of making India the EV hub of the world.
The company, Tata Passenger Electric Mobility (TPEM) has been established with TPG Rise Climate to offer new mobility solutions. TPEM aims to ride the green wave and support the government's vision to have 30% electric vehicle penetration by 2030, Tata Motors said in a release.The company will be rolling out the electric version of its entry-level model Tiago, its third EV after Nexon and Tigor. It has set a target of introducing 10 electric models in different affordability levels.
Announcing its plans on World EV Day, Shailesh Chandra, managing director, Tata Motors Passenger Vehicles, and Tata Passenger Electric Mobility said, "World EV Day is indeed a special day for us, as we look back and reflect on our journey so far. We are proud to lead the EV market in India, with a lion's share of 88%. As early entrants, we have shaped the market and seen it grow with Nexon EV and Tigor EV. We have over 40,000 Tata EVs plying on road and we are grateful to the early adopters who have shown faith in the brand. Leveraging group synergies, we have also established Tata UniEVerse, a one of its kind EV ecosystem, which is further propelling the EV adoption."
"Earlier this year, we had unveiled our 3 phased approach towards building a comprehensive EV portfolio. As we accelerate our future journey, we are committed to launch 10 EVs in different product segments, body styles and affordability levels. Today, is a momentous occasion for us, as we announce the expansion of our EV portfolio further with a new mainstream intervention from the stable of Tata Motors, the Tiago EV."
"As a leader, we are now pioneering the next phase of the EV market expansion, which will bring all the EV benefits of an exciting yet easy drive, silent cabin, low cost of ownership to a more accessible level."
Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors' vehicles are marketed in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.
The company reported a consolidated net loss of Rs 5,006.60 crore in Q1 FY23 as against a net loss of Rs 4,450.92 crore in Q1 FY22. Revenue from operations increased 8.3% YoY to Rs 71,935 crore in Q1 June 2022.
Shares of Tata Motors were up 0.21% to Rs 443.25 on the BSE.
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