Tata Motors has announced its plan to launch four electric vehicles (EVs) and hydrogen trucks by early next year. The company is focused on expanding its electric vehicle portfolio and has no plans to introduce hybrid vehicles. The auto major has a strong pipeline of new launches for its passenger car business and Jaguar Land Rover (JLR), which gives them confidence in having a strong fiscal year 2024. Tata Motors aims to capture a significant market share in the EV segment.
“We will launch the upgraded version of Nexon anytime soon. Then we will launch the Harrier in the later part of this year, then Punch EV, and then the new product Curvv EV sometime towards the first quarter of next year,” Natrajan Chandrasekaran, Chairman, Tata Motors said.
“JLR will take orders for all electric Range Rover and Range Rover Sport later this year. And then we will be launching towards the end of next year or in early 2025 a series of Jaguar EVs,” he added. While the EV penetration grows, internal combustion engine (ICE) vehicles are not going to go away in a hurry, Chandrasekaran noted.
Currently, the automaker garners a share of over 80% in the electric passenger vehicle (PV) industry in India, with three models — Nexon, Tigor, Tiago. The company earlier shared that by 2030, Tata Motors India will have 50% EVs. By the end of this decade, it is also targeting to have 63% of JLR vehicles running on green technology.
The Chairman said that the automaker is extremely well positioned “to not only continue to capture growth but gain market share.” When asked about the company’s plan to bring a 4×4 ‘Jeep-like vehicle’, he said that Tata Motors passenger cars continues to evaluate all the different spaces that it wants to be present in. “While we have many options, we consider all and then make a decision to launch products in the appropriate segment. So, this is also getting evaluated.”
“But whenever we launch, it will not be a me-too product, it will be a product with a differentiation,” he added, while hinting at the possibility of a new vehicle to compete with the likes of Mahindra Thar and Maruti Jimny.
Talking about the vehicle scrapping centers, he said the company will operationalise a total of 10 registered facilities in the next 12 to 24 months. In February this year, the auto major opened its first scrapping facility Re.Wi.Re in Jaipur, followed by another one in Bhubaneswar in July. According to him, EV waste disposal is an important business area and new opportunities will emerge around this space. “From a thought leadership level, we are definitely engaged in this.”
