Tata Motors to power EVs with Rs 18,000 crore investment until FY30
Tata Motors (TaMo) has announced a significant investment plan of ₹16,000 to ₹18,000 crore in its electric vehicle (EV) division over the next six years, aiming for completion by the fiscal year 2029-30 (FY30). The company, which currently offers four electric car models, plans to introduce six more by March 2026.
Tata Motors, India's third-largest carmaker, targets a 20% share in the passenger vehicle market by FY30. In FY24, the company held a 13.81% market share in the Indian passenger vehicle market. Their strategy includes expanding the EV product range, improving driving distance per charge, and achieving price parity with internal combustion engine (ICE) cars. Additionally, Tata Motors aims to increase the number of e-car dealerships to 50 cities within the next 24 months.
The Indian automotive industry is expected to sell 6 million cars annually by FY30, with 20% of these being electric cars. Last year, electric cars made up 2% of total car sales.
Key highlights:
Tata Motors’ investment: ₹16,000 to ₹18,000 crore in EVs by FY30.
Current and planned EV models 4 now, 6 more by March 2026.
Target 20% share in the passenger vehicle market by FY30.
Market share in FY24: 13.81%.
Expansion plans More EV options, better range, price parity with ICE cars.
Increasing e-car dealerships to 50 cities within 24 months.
Projected EV market 20% of 6 million annual car sales by FY30.
