Tata Motors Rolls Out 50,000th Electric Vehicle From Its Pune Plant
Tata Motors on Monday (7 November) rolled out its 50,000th electric vehicle (EV) in India from its Pune facility.
“Favorable policy environment, positive word of mouth from existing customers, practical product options, better ride and handling and attractive cost of ownership have helped the Company achieve this feat ahead of its target,” Tata Motors said.
“As the pioneers of EVs in the country, the onus of ensuring successful adoption was on us. With a well calibrated product mix, strong consumer facing initiatives, we have been able to address barriers to EV adoption. We created an entire EV ecosystem with Tata Group companies to provide simple, cost effective solutions for our customers,” Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles said.
“Furthermore, with an aim to make EVs easily accessible, Tata Motors has entered 80 new cities, expanding its network to more than 165 cities,” the company said.
In July this year, the company's chairman N Chandrasekaran told shareholders that Tata Motors is planning to double its electric vehicle sale to 1 lakh units by financial year 2023-24.
"In FY-21 we sold about 5,000 electric vehicles, in FY-22, it was about 19,500 units, this year we plan to sell 50,000 electric vehicles and we plan to double it to 1 lakh EVs by next year," Chandrasekaran said while speaking to the shareholders at the 77th Annual General Meeting.
Tata Motors has plans of expanding the product portfolio in the EV segment to 10 offerings by 2025.
Chandrasekaran expects the share of EVs in the company's total sales to increase to 25 per cent in the next five years.
The company has also been planning to invest $ two billion in the passenger EV business.
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