Which carmaker will grab the EV market?
Rising fuel prices and pollution have forced Indian car buyers to consider electric vehicles. Even the government is trying to encourage alternate fuel-powered cars. The Indian car market is expanding rapidly. Tata Motors is one carmaker who can be the next market leader if they play their cards right. In this article, we will discuss, how Tata Motors could rule the EV market in the coming future.
Tata Motors and their EV plans
Tata Motors is very clear about their plans related to manufacturing EV, they are planning to bring seven new EVs in the next five years. TPG Group and ADQ have decided to invest a total of Rs 7500 crore in a new company that Tata Motors will establish to develop and manage its electric vehicles. Tata Motors is now seen focusing on developing a born electric vehicle ( a car that will be an all-new design built just as an electric vehicle and not an ICE to EV car like Nexon). They are also working on charging infrastructure and battery technology.
Other EV carmakers and their plans
Currently, there are very few car makers who are active in the EV race. Morris Garage aka MG and Hyundai are the carmakers who have their products ZS EV and Kona respectively. Both these care are above Rs 15 lakhs and way out of reach from the buyer who is planning to buy a small car. Carmakers like Nissan, Renault, Maruti Suzuki are currently playing spectator and not bringing any EV in the car market any time soon. However, Maruti’s WagonR EV was spotted testing but they seem to be waiting for infrastructure to be ready that will complement the growth of EVs in India. Tata Motors has revealed a plan of bringing a total of ten EVs by the next five years.
How Tata Motors can become a market leader?
Tata Motors bringing in a hatchback that will be the Altroz at an affordable price point that could be a game-changer. Currently, the entry-level EV segment is unexplored territory. There are no electric vehicles that cater to the segment where most of the buyers are seen shopping for their first new car or upgrade from a two-wheeler to a car. Tata Motors could target the entry-level EV segment before current market ruler Maruti enters the market and retains its supremacy. Tata Motors’ entry in the segment at the correct time could give them the advantage of early entry, giving them a leading position in the EV race.
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