Tata Motors expects to aggressively ramp up annual production of electric vehicles (EVs) to more than 80,000 units this financial year, said a Reuters report.
India’s biggest automaker had manufactured and sold 19,000 EVs in the last financial year.
Declining to comment on its production plans, the company said that EV sales were growing rapidly with demand outpacing supply.
Last year, Tata Motors announced plans to launch 10 EV models by March 2026, investing about $2 billion on new vehicle architecture, related technology and infrastructure.
The company accounts for 90 per cent of country’s EV sales, which by segment only represents 1 per cent of the country’s annual sales of about 3 million vehicles. The company plans to unveil a concept car to build on its first EV platform developed from the ground up.
Cars built on the new platform, called the Pure EV architecture, will also be launched in global markets, the company said.
The new platform represents the third phase of Tata’s electrification plans that have been given a boost by a $1 billion investment from private equity firm TPG last year, says the new report.
In the first phase, the company had launched two EVs, the Nexon SUV and another model for fleets, which are being built using an existing combustion engine platform.
In the second phase, the company will modify a combustion engine platform to build EVs with bigger batteries and longer driving ranges. These vehicles are expected to hit the market in about two years.
By 2030, India wants electric models to make up 30 per cent of total car sales.