Tata Motors plan to launch affordable e-cars by 2023

By early next year, the electric car market is set to hit top gear as Tata Motors is looking to introduce affordable cars when compared to previous models by early next year. When it comes to rivals, such as Mahindra and Mahindra, it is looking to foray in the electric car segment.

The M&M would be launching the electric version of XUV in the 2nd week of September, Tata Motors is presently working on numerous parameters in order to bring down the cost of EV ownership.

A new electric car has been planned at a price point lower when compared to the flagship Nexon, which is likely to be launched soon, Shailesh Chandra, Managing director, Tata Motors Passenger Vehicles Ltd, stated in an interview.

For Q1FY23, Tata Motors has got around 88% share of the electric passenger vehicle Market, it is looking to woo the price-sensitive Indian consumer with Generation-1 and Generation-2 Evs at an affordable price in the coming 12 to 18 months.

The company is also planning to launch the mid-sized electric sports utility vehicle (SUV) TATA Curvy in the year, 2024 and it is born electric or Generatio-3 EV range, which is based on the AVINYA Concept in 2025.

The carmaker would be looking to launch two new electric vehicles every year or 10 new EV's, in the coming five years, stated Chandra. The model, "more affordable" than its best-selling Nexon EV, is in the works and could be announced by the end of the year and hit the market early next year, he stated.

Tata Motors is also banking on a cycle of product refresh, which would hit the market next year onwards in order to keep attracting customers, even as its competitors launch a slew of new vehicles, particularly new SUV's.

As competition intensifies in the EV segment leading up to 2024-25, when mass-market players would have multiple EVs built on dedicated, ground-up EV platforms, Tata Motors is betting on its high-intensity of launches to retain its leadership position.