Tata Motors on Friday announced its Q4 results. The leading electric vehicle maker has sold 73,800 EVs during the year, marking a 48% increase as compared to FY23. It has also crossed a milestone of 1.5 lakh cumulative EV production.
The automaker, which sees the phase of early enthusiastic buyers adopting passenger electric vehicles ‘probably getting over’, has now a new game plan to up its EV game.
New EV Launches: Tata Motors plans to introduce new electric vehicle models, such as the Curvv EV, to expand its electric vehicle portfolio.
Market Development: The company is focusing on market development by addressing barriers to EV adoption. This includes improving charging infrastructure, addressing total cost of ownership (TCO) concerns, ensuring residual value, offering a variety of models, and catering to various use cases.
Charging Infrastructure: Tata Motors is collaborating with charge point operators to set up almost 22,000 chargers in the coming years. This initiative aims to provide adequate charging infrastructure to support EV users.
Solar Rooftop Integration: The company is working with solar rooftop companies to promote the idea that having a rooftop solar setup makes an EV more economically viable. This integration of solar power is expected to enhance the appeal of EVs.
Market Expansion: Tata Motors plans to expand its presence in the EV market by exceeding sales targets. Despite missing the target of 100,000 units in FY24, the company is confident about surpassing this figure in the current year.
