Tata Motors: 5 New EVs by FY30, Market Share Target

New Delhi, Dec 23 (PTI) Tata Motors Passenger Vehicles on Tuesday said it will roll out five new electric vehicle models, including the premium product range Avinya, and invest up to Rs 18,000 crore by 2029-30, as it looks to retain a dominant market share of 45-50 per cent in the country's growing electric vehicle segment.

The company said it plans to invest Rs 16,000-18,000 crore in the EV business by FY30, including in products and expansion of charging infrastructure to over 10 lakh points across the country.

"As EV adoption accelerates, our commitment remains clear: to mainstream electric mobility by making it accessible across segments, strengthening the ecosystem, and investing in India-first technology and localization. This is how we will continue to lead India's growing EV market," Tata Motors Passenger Vehicles (TMPV) MD & CEO Shailesh Chandra said.

The company has the country's largest EV portfolio for personal mobility - Tiago.ev, Punch.ev, Nexon.ev, Curvv.ev and Harrier.ev - along with the XPRES-T EV for the fleet segment.

"We'll make EVs available at all segments to drive further mainstream adoption of EVs," Chandra said.

He noted that the company will introduce Sierra.ev and a new version of Punch.ev next year.

"And by the end of 2026, we will launch the much-awaited premium range of EVs - Avinya. By FY30, we'll bring five new EV nameplates, including Sierra and Avinya, along with multiple updates and refreshes for the existing models," Chandra said.

As the company expands its portfolio, it will strengthen the mainstreaming approach by doubling down on the ecosystem actions, including investing in the charging ecosystem and other enablers to bring EVs into the consideration of more mainstream buyers, he added.

"To support all the product and mainstreaming actions, we have announced a capex commitment of Rs 16,000 to Rs 18,000 crore between FY 25 to FY 30, which will help us strengthen leadership, expand our EV portfolio and accelerate the mainstreaming of electric mobility in India," Chandra said.

"And through these actions, we believe a steady state EV market share of 45 to 50 per cent is achievable for us, even in our intensely fought market," he added. Chandra said the company will launch a sport utility vehicle under the Avinya nameplate and will also be setting up a dedicated retail channel for the brand.


Tata Motors has surpassed sales of 2.5 lakh EVs till date.

On a query regarding the price parity between EV models and ICE vehicles, Chandra noted that the entry-level EV segment is the most difficult segment to be in currently.

“We would not make money, but if we have to be steadfast to our ambition of electrifying India. We will persevere in that segment (entry level EV) and try to see how we can make the entry EVs more mainstream,” he added.

On the upcoming CAFE norms, Chandra said that the government will also always act on what is contextual to India, and what the challenges are in front of the country.

He cited rising air pollution as one of the factors which should be considered while considering the norms.

“So CAFE has to drive the regulation and actions of the ecosystem players in the auto industry to overcome that (air pollution) challenge. Number two is energy security. Whichever technologies ensure that there is energy security for the country should be promoted,” he added.

“Third net carbon zero is a global call of all the nations, and that has to be supported and there is the safety aspect. This is the country with 2 lakh fatalities (on road). I think these are the challenges in front of India, and India has to define any norms and regulations contextual to our requirements,” Chandra said.

He noted that for the Tata Group, it is not about making money, but that it is pursuing electrification.

“It is the visionary leadership of Tata Group, which said that this is what the nation needs, and we have to do it, whether by losing money for some time, even if it requires multiple group companies to take that risk and lose money for some time, to build the foundation. We have been pursuing that path,” Chandra said.

“Other companies have to think about how they want to contribute to nation building, and it's their prerogative to decide what strategies they adopt,” he added.

Chandra stated that the company is hopeful of EVs accounting for at least 15-20 per cent of the overall PV industry by 2030. For the automaker, the EVs now account for around 17 per cent of the overall PV sales, he added.