Tata Motors is investing $2 billion in electric vehicles as part of an aggressive strategy to increase their share of the market from the current 15% to 50%.
The head of Tata Motors' Passenger and Electric Vehicles Division, Shailesh Chandra, stated that the business intends to keep active with production plans and launches over the upcoming years, with a focus on electrics, a category in which it currently holds the lead.
“We are enthused by the success of our bet in electrics and even though these are early days, Tata Motors has turned it into a substantial business with strong volumes year-on-year. While the EV sales were only 150 units in 2018, we closed 2021 with volumes of 19,000 cars, and last year with 50,000. This year, we are hoping to double this to 100,000 units,” Chandra told the media as the company launched the new-generation versions of the Nexon mid-sized SUV which comes strapped with petrol and diesel engines and electric option.
The internal combustion engine versions of the Nexon are priced between Rs 810,000 land 13,00,000, while the electric ones are between Rs 14,70,000 and 19,20,000 (all ex-showroom, Delhi).