Tata Motors seeks to regain 50% market share in electric PV segment

Tata Motors, the leader in the domestic electric passenger vehicle segment, is seeking to regain its market share of 50 per cent in the mid-to-long term through expansion and renewal of its product portfolio, according to a top company official.
With the domestic electric passenger vehicle market fragmenting into four distinct segments on the basis of price points, the company will be entering the above Rs 20 lakh category with its upcoming Harrier.ev and Sierra.ev, Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility Managing Director Shailesh Chandra told PTI here in an interview.
The company is working to make the total cost of ownership (TCO) of its EVs in the fleet segment comparable to that of CNG vehicles to regain volumes, he added.
"We have the aspiration of sustaining our market share beyond 50 per cent in the mid to long term...We would aspire to be at a 50 per cent market share by having a very wide product portfolio and products which are aligned to the expectation of the customers," Chandra said, adding that by mid-term, he meant 18-24 months and beyond.
He was responding to a query on how Tata Motors is looking to maintain its leadership position in the electric PV segment in the wake of intensifying competition.
Acknowledging that in the short term, the company will face challenges, he said the decline in the company's market was "pretty much on the cards" as many players have come with multiple products with around 20 models in the market, including luxury cars.
The passenger EV market is now segmented into four parts -- Rs 8-12 lakh; Rs 12 to 20 lakh; above Rs 20 lakh and the fleet segment, he noted.
Chandra said the company's market share is about 40-41 per cent at present, down from about 55 per cent last fiscal, mainly on account of a drop in fleet sales and intense competition in the Rs 12 to 20 lakh segment.
"A big part of the loss in volume has come because of the loss of volume in the fleet segment. In the personal segment, we have been kind of sustaining our volumes, but we are losing market share because the competition is coming in," he noted.
Elaborating on how the company is preparing to regain its overall market share, he said, "In the Rs 8-12 lakh segment where we have Tiago.ev and Punch.ev with 75 per cent segment share, we are very comfortable. The idea would be to expand this part of the EV market. We are going to do that by strengthening the value proposition of the existing product and that work is on".
In the Rs 12-20 lakh segment, he said it is the "most crowded segment" where "all the players have positioned one product or the other".
"Here, our market share has come down to 33-35 per cent. This is where we are trying to bring more compelling options with two products that we have here, Nexon.ev and Curvv.ev, to fiercely compete in this segment".
Going forward, Chandra said, "There is another segment beyond Rs 20 lakh, which is emerging fast, and we are seeing the appetite of people also here to buy electric cars. This is the segment we are not present in right now. This is where we'll come with Harrier.ev and then Sierra.ev. So, that will open a new segment for us, and that should strengthen our volume growth further".
On the fleet segment, he said, "Last year, we faced stress because of the discontinuation of the FAME incentive and that brought down the volumes in the fleet segment".
So far, the total cost of ownership of an electric car has beaten the diesel option, but the bigger market of the fleet is CNG, Chandra added.
"Therefore, the effort is on to ensure how we can bring the (EV) TCO down to the TCO of a CNG and therefore the value proposition in the fleet segment has to be taken forward in that direction and we are actively working on it".
With all these actions in the short term, Chandra said, "We will be able to start regaining market share, and also expand our volumes".
There will be a continuous expansion and renewal of the portfolio in line with how the market is shaping up, he said, adding "that would mean fresh products, very compelling products going forward".
Tata Motors sold about 65,000 EVs in FY25, a drop of 10 per cent compared to FY24.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

News18

30 minutes ago

• News18

Influx Healthtech IPO Allotment: A Step-By-Step Guide To Check Status Online Today, Know Latest GMP

Last Updated: According to market observers, the GMP of the Influx Healthtech IPO is 22.92%, indicating decent listing gains for investors. Influx Healthtech IPO Allotment: The initial public offering of Influx Healthtech has received a whopping 201.35 times subscription, indicating huge interest from investors. Investors are now eagerly awaiting its allotment even its latest GMP shows a strong 22.92% listing gains. The allotment of the Influx Healthtech IPO is expected to be finalised today, Monday, June 23, in the evening. Once the IPO allotment is finalised, investors will start receiving bank debit messages, most probably in the evening. They can also check their allotment status on the websites of the NSE as well as registrar Maashitla Securities Private Limited. The allotment is expected to be finalised in the evening today, Friday, June 20. The allotment status can be checked by following these steps: Step 1: Visit Maashitla Securities' portal — Step 2: Under 'Select Company', choose 'Influx Healthtech Ltd'. Importantly, if the company's name is not visible in the drop-down list, it means the allotment has not been finalised yet. According to market observers, the GMP of the Influx Healthtech IPO is 22.92%, indicating decent listing gains for investors. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Influx Healthtech IPO Listing Date The shares of Influx Healthtech Ltd will be listed on the NSE Emerge on June 25. The Influx Healthtech IPO was open for subscription between June 18 and June 20. It is a book-built issue worth Rs 58.57 crore, comprising a fresh issue of 50 lakh equity shares worth Rs 48 crore and an offer for sale of 11 lakh shares aggregating to Rs 10.56 crore. On the final day of bidding on Friday, the SME IPO received an overwhelming 201.35 times subscription, garnering bids for 81,71,71,200 shares as against 40,58,400 shares on offer. The retail and NII participation stood at 117.68 times and 481.10 times, respectively. Its qualified institutional buyer (QIB) category got a 137.87 times subscription. The price of the Influx Healthtech IPO was fixed at Rs 96 apiece. Influx Healthtech Ltd's revenue increased 5% and its profit after tax (PAT) rose 19% between the financial year ending with March 31, 2025, and March 31, 2024. Rarever Financial Advisors Pvt Ltd is the book-running lead manager of the Influx Healthtech IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Influx Healthtech IPO is R K Stock Holding Private Limited. Influx Healthtech Ltd, founded in September 2020, is a healthcare-focused CDMO with three manufacturing units in Thane, producing tablets, capsules, powders, liquid orals, and softgels.

India.com

32 minutes ago

• India.com

Good news for Anil Ambani, another company settles Rs 2730000000 loan of…, with…

Anil Ambani was already in the news for settling down the debt of his many companies. Now once again it has settled the debt with another company. In a recent exchange filing it stated that it has fully settled a Rs 273-crore loan, including interest, owed by its wholly owned subsidiary JR Toll Road Pvt Ltd (JRTR) to Yes Bank Ltd. It stated, '' A wholly owned subsidiary of the Company (along with the Company as Corporate Guarantor), has entered into an addendum to the Settlement Agreement today with Yes Bank Limited (YBL) for the entire outstanding debt obligation of ~INR 273 crore (including interest) owed by JRTR to YBL, and has duly paid the entire settlement amount.'' Anil Ambani Company Debt Reduction Debt reduction has become a primary focus for Anil Ambani. Reliance Infrastructure: Paid off Rs 3,300 crore of debt in FY 2025, becoming debt-free. Rosa Power Supply Company: Cleared Rs 485 crore of debt, achieving debt-free status. Reliance Power: Settled a loan of Rs 3,872 crore earlier. JR Toll Road Pvt Ltd, a special purpose vehicle established by Reliance Infrastructure, is responsible for the development, operation, and maintenance of a 52-kilometer segment of National Highway 11, connecting Jaipur and Reengus in Rajasthan. The project was executed under the Design-Build-Finance-Operate-Transfer (DBFOT) model, featuring a highway expansion from four to six lanes. Operations commenced in 2013, coinciding with the start of toll collection.

Hindustan Times

33 minutes ago

• Hindustan Times

Watch with Kannada numerals and Karnataka's iconic crest goes viral: 'Decolonize your mind'

BJP MP Tejasvi Surya criticizes Karnataka's Rs 18,000 crore tunnel road project, calling it unscientific and financially unsound. He questions the project's feasibility, high toll costs, and potential public fund drain, challenging the government's transportation strategy.