Tata Motors Managing Director Shailesh Chandra reacted to the rising competition in the electric four wheeler space. Chandra highlighted that the competition bodes well for the industry.
Speaking on the sidelines of Bharat Mobility Global Expo which is being held in New Delhi, Chandra told reporters the entry of new variants from different players is a net positive. "Competition should lead to market expansion. If the market does not expand, it will be a challenge for all the players," he said.
Recently, Mahindra and Maruti Suzuki have announced big moves in the electric four wheeler market. Mahindra launched its new B6 SUV collection in November.
At the auto expo, Maruti Suzuki unveiled its new e-Vitara electric SUV which will take on Tata Motors Curve EV.
The growing market for EV gives an opportunity for establishing global presence as well, Chandra highlighted. "In ICE, there are different standards to comply with. However, EV can help in exporting to different markets," he said.
Maruti Suzuki has announced that India will serve as a base for EV manufacturing and it will export to around 100 countries.
Tata Motors is also looking to tap new opportunities in the segment. So far, Tata has sold over 2 lakh electric vehicles.
In 2024, Tata sold 61,496 units with market share of 62%. Its market share declined from 73% in 2023. With increasing penetration of EVs, Chandra remains bullish on the opportunities.
"EV penetration can reach 15-20% by 2030. All the players are now sure about the technology which is why there is a huge growth in the segment," he highlighted.
At the Bharat Mobility Expo, Tata Motors unveiled the all new version of Sierra, Harrier.ev and the Avinya X concept. In the commercial vehicle segment, the company announced the launch of Tata Ace Pro which aims to provide a profitable solution to last mile delivery.
