The auto giant has is also looking to scale production up to 125,000-150,000 units annually in the following two years
Bullish on the growing EV ecosystem in the country, Tata Motors is devising a plan to produce 50,000 EVs in the next fiscal year, a move that might potentially help it generate revenue of Rs 5,000 crore in FY23.
As per media reports, sources close to the matter have revealed that the auto giant has is also looking to scale production up to 125,000-150,000 units annually in the following two years.
With bookings for 15,000 vehicles and plans of launching three affordable electric cars in the sub-Rs 10 lakh range in the coming 12-18 months, the maker of the Nexon EV is confident of scaling upon its early advantage.
Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility’ said, “We will be launching one or two products every year, which will be at different price points which will increase affordability. Nexon is our core today, you will see action below Nexon as well as above the product in the coming years.”
Chandra said, “There is a very strong demand pipeline. We have been getting booking rates of 3,500 a month, I am not even counting the fleet orders.”
Tata Motors has emerged on the top of electric passenger vehicle sales in the country. In December 2021, Tata Motors managed to sell 2,255 EVs, achieving its highest-ever EV sales in a month. This was driven mainly by the company flagship Nexon EV and the recently-launched Tigor EV.
Late last year, Tata Motors announced that it will be forming a seperate subsidiary for its electric vehicle business which will be called Tata Passenger Electric Mobility Limited (TPEML).
The wholly-owned EV company has been formed with an initial investment of Rs 700 crore and will be responsible for manufacturing electric vehicles for the automaker.