Reuters, New Delhi, April 28 – According to people familiar with the situation, Tata Motors (TAMO.NS) plans to rapidly increase the annual production of electric vehicles (EVs) to more than 80,000 units this financial year. In the last financial year, it built and sold 19,000 electric vehicles.
Tata, India’s largest company, declined to comment on production plans, but said the demand for electric vehicles was too high. Sources declined to be identified as they were not authorized to speak to the media.
Tata said last year it would roll out ten electric vehicles by March 2026, investing $ 2 billion in new vehicles, technology, and infrastructure.
Tata sells 90% of India’s electric cars, despite an estimated 1% of the country’s over three million vehicles sold annually in the country.
Tata will unveil a car that will be unveiled on Friday to be built in the first floor of an electric company from the ground up.
The business said in its invitation to indicate that the vehicles built at the stadium, known as the Pure EV architecture, would be released to international markets.
The new platform is the third step in Tata power generation efforts, promoted last year by a $ 1 billion investment from TPG, an independent equity group.
The Nexon SUV and another aircraft model, built into the burning engine chassis, were introduced in the first phase.
The second step is to repair the base of the combustion engine to build electric cars with larger batteries and longer widths. In about two years, those cars are set to join the market.
Prime Minister Narendra Modi’s plan to reduce carbon includes increasing the number of electric vehicles on the road, and his executives pay businesses billions of dollars to obtain compensation for producing electric vehicles and parts in India.
India wants electric cars to pay 30% of the total car sales by 2030.