Tata Motors will very shortly launch a more affordable electric car, which could be a hatchback, and will be priced very competitively, Shailesh Chandra, MD of Tata Motors PV Business Unit, said
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd.
Tata Motors plans to launch a hatchback electric vehicle soon with a price tag below Rs 12.50 lakh, Shailesh Chandra, MD of Tata Motors PV Business Unit, told CNBC-TV18 on September 9.
“Tata Motors will very shortly launch a more affordable electric car – in a segment lower than Tigor EV. The starting price of Tigor EV is Rs 12.5 lakh. The next car, which could be a hatchback, will be priced very competitively,” Chandra said in an exclusive interaction with the channel.
He added that the company is targeting sales of 50,000 EVs in current fiscal (FY23).
Speaking on the industry growth as a whole, Chandra noted that the EV sector was at 2,000 units in FY19 and has since seen 10 times growth over the last three years. “The industry has already seen sale of 20,000 EVs in FY23, which is almost the same number as FY22. The auto industry will cross 50,000 units in EV sales this FY,” he said.
Chandra said they have sold 17,000 EV units so far and will target sale of 50,000 vehicles in FY23. “Tata Motors is working out a plan for utilisation of Ford’s Sanand plant, re-tooling will have to be done and we are accelerating efforts to get additional capacity of 3 lakh units from the plant,” he said.
Further addressing the incident of fire in a Nexon EV in Mumbai, Chandra called it “an isolated incident”.
“Tata Motors has already sold 40,000 EVs which are very safe and the government has already done its probe and inspection of the fire incident,” he said.
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