Tata Motors estimates EVs to account for 50% of its total sales by 2030.<\/p>\n
\u201cWe 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,\u201d Shailesh Chandra, MD of Tata Passenger Electric Mobility, said during an EV Conclave.<\/p>\n
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. \u201cThe same pressure is on all the OEMs. There is no choice. It is only a matter of how fast this is going to happen,\u201d he said.<\/p>\n
Tata Motors has set a target of 2040 to achieve net carbon zero. \u201cI 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,\u201d Chandra added.<\/p>\n
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.<\/p>\n