The company, which became the first automaker in the country to sell 50,000 EVs in a year in 2022, currently sells the Nexon EV and Tigor EV, and commands 90% share in India’s passenger EV market.
Tata Motors is set to commence deliveries of the Tiago EV, priced at 8.49 lakh ex-showroom onwards, later this month. The company has received 20,000 bookings for the car, with as much as a quarter from first-time buyers, including from states such as Bihar, Madhya Pradesh, Uttar Pradesh and Andhra Pradesh.
“What is interesting is 28% of the buyers who booked the Tiago EV said they did not consider any petrol or diesel vehicle for purchase. Consumer awareness about electric vehicles is increasing,” said Vivek Srivatsa, head (marketing, sales and service strategy), Tata Passenger Electric Mobility. “There is traction in the market. The government has said 30% of sales will come from electric vehicles by 2030. Within our portfolio, we expect penetration of electric vehicles will be higher at around 50%.”
The company is scheduled to launch two more EVs shortly. Overall, it plans to launch 10 EVs over a period of five years.
Sales of passenger EVs are growing at a fast clip, with projections of a surge to about 60,000 units in this financial year from just about 3,000 units three years ago. The pace of growth could have been faster had there been more options in the mainstream segment, according to market trackers.
