Tata Motors Announces Launch of Its First Ever E-vehicle Production

Feb, 2021 - By SMI

The domestic Auto-giant has decided to go for production of E-vehicles. The shares of the company soared by 11% on 12th January following the announcement.

With the continuous efforts of Tata Motors to produce an affordable passenger vehicle for the Indian middle-class, this initiative is just another attempt towards it. Reports claim that the e-vehicle will have the capacity to travel 124 miles in a single charge and the cost is estimated to be in the same range as the regular 4-wheeler cars. The previously launched Altroz, Jaguar XE and Tata Nexon from Tata Motors have proven to be beneficial enough to regain company’s market share value and a healthy sale of units at a decent recovery rate.

The decision of choosing e-vehicles comes after the strong quarterly sales of previous three months, majority of them being from the electric vehicles segment. Peak in sales revenue was also seen in overseas market with North America leading with +31% increment, followed by China at 20% while the European market remained steady in the quarter. The domestic market itself had 21% increase in its retail sales in the month of December. The company-owned Jaguar brand has taken a boost in its quarterly business but still lagged behind in its yearly sales. There are rumors circulating around in the industry regarding the collaboration of Tata Motors with an E-vehicle giant but the officials have denied about any such deal.

Recent launches of the company confirm its shift from automation to electrification along with their future strategies sailing in this direction. As demand for sustainable fuels and green living is escalating, companies such as Tata Motors need to adapt to the changing trends in order to stay in the market race. We can expect newer products from the automobile industry in the coming years.