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It is expecting to grow faster than the industry EV growth rate, he added.
“Two years back, EVs were growing on a very low base. In the last calendar year, it had a growth of nearly 100 per cent but now the base is getting bigger. By the end of this financial year, it will be around 90,000 to 1 lakh. On this high base, I think the growth (industry) would moderate to about 40 per cent to 45 per cent,” Chandra said.
As for Tata Motors, he said with five EV products lined up for launch, the company expects to beat the industry growth rate.
When asked about EV penetration in the overall sales of the company, he said, “Currently we are between 12 to 15 per cent. Fortunately, we are also growing in
In 2023, Tata Motors sold a total of 69,153 units of EVs.
Further, he said, “In the next three years, we have taken a target of achieving 25 per cent of total sales with all the products that we are going to launch. 2024 should be around 15-17 per cent.”
Chandra said apart from Punch.ev, Tata Motors will launch the Curvv, Harrier EV,
Punch.ev has been launched with an introductory price ranging from Rs 10.99 lakh-14.49 lakh. It comes with two battery pack options – 25 kWh, offering a range of 315 km, and a 35 kWh option, which offers a range of 421 km on a single charge.