Tata Motors is preparing a strong comeback in India’s electric car segment! The rising competition and changing consumer preferences have prompted the homegrown auto manufacturer to set challenging targets to regain its leading position by adding new EVs to its portfolio and launching new models in new price segments.
Aiming for 50% Market Share
Tata Motors currently commands approximately 40–41% of the electric passenger vehicle market in India, and has stated its intent to claw back to and maintain a market share of 50% in the mid- to long-term (18–24 months and beyond). The company had previously held a 55% share, but this has decreased due to increased competition and declining fleet vehicle sales.
Key Strategies:
- Expanding product lineup with new EV models.
- Upgrading existing electric vehicles with new features.
- Targeting multiple pricing segments from ₹8 lakh to ₹20+ lakh.
- Increasing focus on the fleet EV segment with better cost-efficiency.
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Diversifying EV Portfolio Across Price Segments
Tata Motors is responding to the fragmentation of the Indian EV market into four distinct pricing brackets:
1. ₹8–12 Lakh Segment
- Dominated by: Tiago EV, Tigor EV, Punch EV
- Market share: ~75%
- Strategy: Enhance value in this space with refreshed models.
2. ₹12–20 Lakh Segment
- Dominated by: Nexon EV, Curvv EV
- Market share: ~33–35%
- Strategy: Strengthen product appeal and competitiveness.
3. Above ₹20 Lakh Segment
- Upcoming entries: Harrier EV (launching June 3), Sierra EV (later in 2025)
- Objective: Open new premium electric car segment for Tata.
4. Fleet EV Segment
- Focus on reducing Total Cost of Ownership (TCO) to rival CNG vehicles.
- Plan to regain lost volume due to drop in fleet sales.
Addressing Challenges in a Crowded Market
Tata Motors acknowledges that the increased number of competitors and EV models—especially in the ₹12–20 lakh bracket—has led to a dip in its overall market share. However, the company remains confident in maintaining strong personal EV sales while improving fleet sales through cost-efficient models.
Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, stated:
“We aspire to sustain our market share beyond 50% with a wide portfolio aligned to evolving customer expectations.”
Conclusion
Again, Tata Motors is well positioned to lead the EV revolution in India. With an impressive product roadmap, expanding dealer footprint, and vision in place, Tata is headed toward regaining 50% of EV car market share. New models, Harrier EV and Sierra EV will not only create more momentum for Tata, but also redefine the premium EV segment in India.
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