Tata motors
Domestic Electric Passenger Vehicle Market Leading Tata Motors is carrying a target to regain a 50 per cent market share in the segment in the long -term through the expansion and renewal of its product portfolio. A top officer of the company gave this information. Shailesh Chandra, MD of Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility, said that domestic electric passenger vehicle is divided into four separate segments based on market price.
Market above 20 lakh rupees
The company is going to land in the market above Rs 20 lakh with its upcoming Harrier.EV and Sierra.EV. He said that the company is working to equalize the total cost (TCO) of EV ownership in its fleet to equalize the CNG vehicle, so that the volume can be achieved. Chandra said, “Our aspiration is to maintain more than 50 percent market share in the long term from medium. We aspire for the target of 50 % market share by presenting products as per the expectations of very comprehensive product portfolio and customers.
Strong competition is getting from market
He said that he has meant one and a half to two years from the moderate period. He was asked how Tata Motors is taking steps to maintain its leading position in the electric passenger vehicle market. He admitted that the company would face challenges in the long term. He said that the decline in market share of the company is largely fixed, as many companies have brought many products. There are currently about 20 models including luxury car in the market. He said that the passenger electric vehicle market is now divided into four segments.
Passenger electric vehicle market is divided into four segments
These segments are 8-12 lakh rupees; 12 to 20 lakh rupees; More than 20 lakh rupees and fleet segment. Chandra said that the company’s market share is currently around 40-41 per cent, which was about 55 per cent in the last financial year, mainly due to decline in sales in the fleet segment and a faster competition in the segment of Rs 12 to 20 lakhs. On how the company is preparing to regain its total market share, he said, “We are in a very satisfactory position in a segment of Rs 8-12 lakh, where we have Tiago.EV and Panch.EV with 75 percent stake.” The idea is to expand this part of the EV market. We are working on the value addition of the existing product portfolio. He said that the segment of Rs 12-20 lakh is the most crowded. All players have one or other products in this segment.
This segment is emerging fast
Chandra said that the company’s stake in this segment has reduced by 33-35 per cent. Here we are trying to bring more attractive options with our two products, Nexon.EVs and Curve.EVs, so that we can present hard competition. He said that there is another segment ahead of Rs 20 lakh, which is emerging rapidly. People also wish to buy electric cars in this segment. We are not present in this segment yet. In this segment, we will bring Harrier.EV and then Sierra.EV. So, this will open a new segment for us, which will increase the amount of our sales.
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