Tata Motors, the big shot in the electric car game in India, is on a mission to reclaim its 50 per cent market share in the long run. The company’s top honcho spilled the beans on their strategy to expand and revamp their product lineup to achieve this ambitious goal. In an exclusive chat with PTI, Shailesh Chandra, the big boss at Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility, revealed that the company is gearing up to enter the over ₹20 lakh category with two new models, Harrier.ev and Sierra.ev.
The electric car market in India has splintered into four distinct segments based on price points, and Tata Motors is ready to make its mark in the higher-end segment. Chandra emphasized the importance of making the total cost of ownership of their electric vehicles competitive with CNG cars to attract more buyers and boost sales volume. He expressed his determination to not only maintain but also surpass the 50 per cent market share mark within the next 18-24 months.
Facing stiff competition and a recent dip in market share, Tata Motors is leaving no stone unturned in its quest to dominate the electric passenger vehicle segment. The company’s market share currently hovers around 40-41 per cent, a significant drop from the previous fiscal year. Chandra attributed this decline to decreased fleet sales and increased competition, especially in the ₹12-20 lakh segment. Despite the short-term challenges, Tata Motors is focused on regaining lost ground and expanding its market presence.
Expanding on their product offerings, Chandra highlighted Tata Motors’ stronghold in the ₹8-12 lakh segment with models like Tiago.ev and Punch.ev. However, he acknowledged the fierce competition in the ₹12-20 lakh segment and outlined plans to introduce new, compelling options like Nexon.ev and Curvv.ev to stay ahead of the curve. The company is also eyeing the above ₹20 lakh segment with upcoming models like Harrier.ev and Sierra.ev to tap into new market opportunities and drive further growth.