Tata Motors Ltd is looking to increase its market share in the passenger vehicle segment from 14 per cent currently to 18-20 per cent by FY30. The carmaker will also increase the share of its electric vehicle offerings to 20 per cent by FY30 from the current 2 per cent, according to a company presentation.
In FY24, Tata Motors had a vehicle composition of 65 per cent petrol, 18 per cent diesel, 15 per cent CNG and 2 per cent electric vehicles. The company by FY30 plans to have a vehicle composition of 50 per cent petrol, 5 per cent diesel, 25 per cent CNG and 20 per cent electric passenger vehicles.
The carmaker will introduce Curvv.ev and Harrier.ev in FY25 and launch Sierra.ev and Avinya in FY26.
Expand portfolio
“We will grow faster than the industry, leveraging new nameplates and powertrain shifts. We will adopt a technology-led product evolution driven by insights from three-billion plus km of driving data. We will expand our portfolio with 10 models by FY26. We will enhance the profitability of both passenger and electric vehicle businesses and have structured actions to drive strong commercial and VAVE reductions. The softening of battery prices will drive higher profitability for electric vehicles. The Sanand 2 facility provides us with an annual capacity of three lakh units, expandable to 4.2 lakh units, taking our overall capacity to one-million plus vehicle units,” mentions a presentation by Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.
Tata Motors will expand its electric vehicle exclusive showrooms in a phased manner in 50 cities over the next 24 months. The company has selected cities based on high penetration clusters, growth potential and locations identified through micro-market analysis. Further, it will expand its community charging from 4,300 chargers in FY24 to over one lakh chargers in FY30.