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regular-article-logo Monday, 17 June 2024

Tata Motors increases prices of its entire passenger vehicle range, EVs hit top gear

This increase will be effective February 1, 2024, and is being taken to partially offset the rise in input cost

Anasuya Basu Calcutta Published 22.01.24, 10:16 AM
Highway star

Highway star Sourced by the Telegraph

Tata Motors has recorded 40 per cent of its electric vehicle (EV) sales in smaller cities (Tier-III).

The company has sold 54,000 EVs till the third quarter of the fiscal, with sales shooting up from 1,900 units in the first year to 19,000 in the second to over 50,000 units in the third year.

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The company on Sunday said it will increase prices of its entire passenger vehicle range, including EVs, by an average of 0.7 per cent with effect from next month.
This increase will be effective February 1, 2024, and is being taken to partially offset the rise in input cost, Tata Motors said in a statement.

The company sells a range of passenger vehicles including Punch, Nexon and Harrier.

“EV adoption is taking off in the small towns which already have the experience of the electric two-wheeler. The inherent benefits such as no dearth of parking space and adoption of solar power make EV adoption in smaller cities a breeze,” said Vivek Srivatsa, chief commercial officer of Tata Passenger Electric Mobility (TPEM) Limited.

He said buyers in smaller towns are charging their vehicles through the solar grid.

The Punch EV will accelerate adoption because it is suitable for rural roads. The two battery options, with 315km and 421km range, will boost adoption, Srivatsa said.

The company is introducing a separate sales channel for its EVs, with two running in Gurgaon.

“We will roll out our EV dealerships in the rest of the country soon. The behaviour of EV buyers is different from ICE (internal combustion engine) buyers. The approach of EV buyers is like buying a tech gadget. They are very community-oriented, they want to hang out with each other and share feedback with us and among themselves. There is no cross-shopping of EV and ICE vehicles. That is why we decided to have exclusive EV outlets,” said Srivatsa.

Asked about the pace of adoption and the range anxiety, Srivatsa said: “Battery sizes will increase and a range over 400km is a reality. Larger battery sizes and different options for battery sizes will help in enhancing adoption.”

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