EVs to account for 50% of Tata Motors’ sales by 2030

“The long-term story of EVs is not a choice, but an imperative,” Chandra said.

Tata Motors estimates EVs to account for 50% of its total sales by 2030.

โ€œWe are very confident with all the models that you know we are going to launch, we are absolutely on the path of hitting 50 percent,โ€ Shailesh Chandra, MD of Tata Passenger Electric Mobility, said during an EV Conclave.

Chandra revealed that EVs make up just 2% of the market in India, but Tata Motors has seen EVs accounting for 15-16% of its total sales, and about 20% of its total revenues. He added that the long-term story of EVs is not a choice, but an imperative because all the nations have signed for net carbon zero. โ€œThe same pressure is on all the OEMs. There is no choice. It is only a matter of how fast this is going to happen,โ€ he said.

Tata Motors has set a target of 2040 to achieve net carbon zero. โ€œI know that if we are not at 50% level at Tata Motors, I am not on my path. We are very clear that we will be 50% by 2030 as a company,โ€ Chandra added.

In response to the recent media reports, Chandra said that the global EV market has grown by 33% in the first 9 months of 2023. Markets like China recorded 26% growth, while the top 5 markets in Europe and the US registered double-digit growth.

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