Tata Motors is set to produce around 50,000 electric vehicles (EVs) in FY 22-23 as it plans to ramp the manufacturing up to 1,25,000-1,50,000 units in the following two years.
Accordingly, the automotive manufacturer will likely draw revenue worth Rs 5,000 crore from just EVs in the forthcoming financial year.
Tata Motors is looking to launch three affordable electric cars in the sub Rs 10 lakh range in the next 12-18 months. Its EVs will likely offer minimum coverage of about 200 km each time they are charged completely.
“We will be launching one or two products every year, which will be at different price points, which will increase affordability. Nexon is our core today. You will see the action below Nexon as well as above the product in the coming years,” the company’s senior executive Shailesh Chandra was quoted by The Economic Times.
Tata Motors’ long-term vision is to ensure that EVs make up 20 per cent of their total sales. Earlier, the company had outlined its plans of launching ten new EV models by FY26.
They currently have bookings for 15,000 such vehicles and plan to launch a new Nexon EV, electric versions of the Altroz hatchback and the Punch small SUV, and a new Tiago EV over the coming couple of years.