Indian automaker Tata has unveiled a lineup of EVs, ICE cars, and trucks during Auto Expo 2023. The company dominates the domestic EV market in India and plans to release 10 EVs by 2026. The lineup of Tata models displayed at Auto Expo 2023 consists of 5 EVs, 7 ICE cars, and 14 trucks. This comes after Tata raised $1 billion for its EV business in 2021.
The annual Auto Expo event is a gathering of the big players in the automobile industry in India. It offers a platform for showcasing innovative cars with a growing focus on EVs. The new Tata EVs will come with higher price points to further cement Tata’s position in the market. The new EVs will come in a variety of ranges to accommodate a larger segment of the market. The shorter-range models are suited for urban commutes while long-range models suit inter-city travel.
Tata Motors says consumer needs are getting very individualistic and Tata aims to maintain its growth momentum in the market. The company says it continues to work towards further strengthening its portfolio in both the EV and non-EV markets. Some of the models showcased during the India Auto Show 2023 are hydrogen-powered vehicles. The EV version of the Harrier and Sierra SUVs are part of the cars showcased during the event.
Tata is developing a new vehicle platform that will be debuted in its cars by 2025. A concept car based on the Tata platform was also showcased during Auto Expo 2023. Tata Motors continues to gross impressive sales numbers in India. It has sold more than 50,000 EVs in India on the back of a favorable regulatory regime.
The Indian government continues to incentivize local EV manufacturing and Tata is enjoying the positive impact on its balance sheet. Electric models still have a small market share in the Indian auto industry. There is however a growing demand for EVs in the subcontinent. Tata feels the transition to electric mobility in India will happen faster than imagined.
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