Latest news with #TataMotors
Mint
an hour ago
- Automotive
- Mint
Tata Motors eyes rare earth magnet sources, has enough stocks: Chandrasekaran
Tata Motors Ltd has enough stock of rare earth magnets, and the company is scouting for new sources amid China's export curbs, Tata Sons chairman Natarajan Chandrasekaran said. 'As of now, we are OK; we are not facing any issues. We are able to source the magnets we need, and are working on securing alternative sources of rare earth magnets,' Chandrasekaran said at the company's 80th annual shareholders' meeting on Friday. 'We are working with the government (on the issue).' Tata Motors, India's largest automaker by revenue, is among numerous businesses affected by China's export curbs on rare earth magnets, which are critical in automotive, aerospace, and electronics industries. Though the curbs were imposed in April as a trade war between the US and China and flared, the two rivals have since reached a deal. However, exports to India remain blocked, and domestic companies are pushing the government to engage Chinese officials to ease supplies. Chandrasekaran's comments on the rare earth magnet issue come a day after R.C. Bhargava, chairperson of Maruti Suzuki India Ltd, India's second-largest automaker and largest carmaker, said his company's stocks of rare earth magnets will last until July. On 11 June, Reuters reported that Maruti Suzuki had cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earth shortages. The e-Vitara was expected to launch before September end. Out of the 54 shareholders who posed questions at Friday's virtual AGM, a fourth referred to rare earth magnets and the situation on the US tariff front. The chairperson also addressed the concerns of shareholders on US tariffs. 'The tariff impact will be primarily on Jaguar-Land Rover. Tariff has gone up from 2.5% to 27.5%, and under the UK-US FTA, the tariff is 10%. The overall impact would have been 1.6 billion pounds. But due to the steps taken by JLR, the impact has gone down to 600 million pounds, which is visible in the margin guidance,' Chandrasekaran told shareholders. JLR, the British subsidiary of Tata Motors, has trimmed its guidance on revenue growth to 5-7% for FY26 from 10% mentioned earlier. The company attributed the reduction to the impact of the tariffs and the slowdown in the Chinese market. In an interview with Mint earlier, Shailesh Chandra, managing director at Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said that rare earths are required for both internal combustion engine vehicles and electric vehicles. China said on 4 April that companies seeking rare earth magnets must submit applications with end user certificates to the Chinese embassy, which then go to the provinces from where magnets are sourced. After approval from provincial authorities, the Chinese commerce ministry has to approve the applications. So far, no Indian company has received approval to receive shipments of these critical items. As per industry estimates, it takes about 45 days to get approval. Bajaj Auto Ltd's executive director Rakesh Sharma said during the company's earnings call on 29 May that the industry will face production cuts starting July if the situation is not resolved. However, Tata Motors' leadership remains confident that the situation is under control and will likely be resolved. Chandrasekaran said the Tata Group will continue its investments in the electric vehicle business, and will likely achieve the 30% penetration target in its overall portfolio before 2030. This was Chandrasekaran's first appearance at a Tata Group company annual general meeting this year. Earlier, he skipped the AGMs of Tata Consumer Products Ltd (TCPL) and Tata Consultancy Services on 18 and 19 June, as top Tata Group officials attended to the crisis over the Air India crash in Ahmedabad on 12 June. The AGMs of TCPL and TCS were presided over by board members P.B. Balaji and Keki Mistry, respectively. Chandrasekaran also condoled the deaths from the AI accident, and requested the board members and shareholders to observe a minute of silence. 'My thoughts are with family and friends who lost their loved ones and I know, we have the same feeling,' Chandrasekaran said in his opening address. 'This has been a long and unsettling week for all of us as a nation, as a group and at a very human level, navigating a very deep sorrow, grief and uncertainty all at the same time.' The chairperson also spoke of Ratan Tata, the group's chairman-emeritus who died last October. 'I had the opportunity to constantly share updates with Ratan Tata about the business in the last few years. While we all miss him, I want you to know that he would have been very proud of the turnaround of the business as Tata Motors was very close to his heart,' Chandrasekaran told shareholders.
Time of India
an hour ago
- Automotive
- Time of India
Tata Motors working with govt, looking alternate sources for magnets: Chandrasekaran
Mumbai: Tata Motors is working with the government and is also taking steps to procure magnets from alternate sources in the wake of China restricting exports of rare earth elements , company Chairman N Chandrasekaran told its shareholders on Friday. Responding to queries from shareholders on the impact of China's move to restrict exports of rare earth elements and shortage of magnets, he said, "As of now, this is not a concern, but this is something that we are watching very carefully." "As of now, we are okay. We are not facing are able to source the magnets that we need, and also we have plans for having the right level of inventory. We are working with the government. Also, we are working on sourcing from alternate sources," Chandrasekaran noted. China's restrictions on the export of rare earth elements and related magnets are affecting the domestic auto and white goods sectors. The automobile industry had sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. Live Events To another query on the impact of the ongoing Iran-Israel war on the company's business, he said, "It is very difficult to answer what will be a war kind of situation look like." However, he said Tata Motors group's three firms -- commercial vehicle, passenger vehicles and JLR -- have a very strong platform. "They will be able to tide over any of these geopolitical issues in the short term but are completely ready and poised for excellent growth and leverage the opportunity that this industry has to offer," Chandrsekaran asserted. Earlier in opening address, he said that going forward, volatility will continue to mark economic cycles -- from widespread geopolitical conflicts, military escalations, the redrawing of supply chains and tariff regimes, to AI and energy transition. Nowhere are all these disruptions visible more than in the automotive sector . "Given the enormous amount of work we have done over the past few years -- from simplifying the businesses to making big strategic bets to strengthening our financial position -- our businesses are structured to not just handle this environment, but to thrive," he asserted. Responding to a query on passenger vehicle business expansion in international markets, he said, "This is something that we are always in discussions but we are waiting for the right geopolitical environment to be able to launch but we are getting prepared." To another query on the completion of demerger of Tata Motors' commercial and passenger vehicle verticals into separate entities, Chandrasekaran said, "We think the demerger will happen in the last quarter of this year. "First, the PV company will list and then the CV company will list a couple of months later. It will happen, in our estimate, sometime around October-November-December quarter." Economic Times WhatsApp channel )
Time of India
4 hours ago
- Automotive
- Time of India
India projected to be fourth largest electric car manufacturer by 2030, China to lead: Report
India 's electric four wheeler capacity is set to grow tenfold to 25 lakh units units by 2030, up from just 0.2 million currently, making it the fourth-largest globally after China, Europe, and the US, according to a new research by Rhodium Group . The New York-headquartered agency predicts India's electric car manufacturing capacity will outpace domestic demand by 11 lakh-21 lakh over the next five years. Targeting export markets will need 'driving down costs' to compete with China, it said. Further, Rhodium projects India's electric car demand to reach between 4 lakh to 14 lakh units by 2030, an increase from 1 lakh in 2024. As per industry estimates, India's total car sales are estimated at 60 lakh, implying an electric vehicle ( EV ) penetration rate of 7–23 per cent in four-wheelers. 'This far exceeds India's projected 2030 EV demand (which likely reaches anywhere from 430,000 to 1.4 million vehicles depending on the pace of policy and battery costs), suggesting the potential for future exports. This push aligns with the government's strategy to 'Make in India for the world', but Indian companies will need to drive down costs if they want to compete with exports from China,' Rhodium said in its latest Global Clean Investment Monitor report. In the previous Financial Year, Indian EV makers Tata Motors , MG Motor, and Mahindra dominated the domestic market with a combined share of nearly 90 per cent, according to data on the Vahan dashboard. Live Events India's anticipated production capacity of 25 lakh will be behind China's 2.9 core, EU's 9o lakh and 60 lakh in the US. 'India emerges as the leading player outside of China, Europe, and the US, edging out Korea and Japan in anticipated capacity,' the report said. While Japan and South Korea currently have higher operational capacities of 11 lakh and 5 lakh units respectively, both have limited capacity under construction or announced. By 2030, Japan's total capacity is expected to reach 14 lakh units, and South Korea's 19 lakh. 'India has charted a distinctive path in developing its EV industry, combining industrial policy with market incentives and a protectionist trade policy. The country launched consumer subsidies tied to tightening localization requirements, coupled with incentives for manufacturers of advanced batteries and EV components and an effort to expand charging infrastructure,' the report said. 'To protect local manufacturers, India has maintained import tariffs of up to 70–100% on fully built EVs. This protective stance has helped domestic production grow but also limits consumer choice and raises costs. Nearly 100% of India's EV manufacturing is for its domestic market,' it added. The report noted that EV penetration in India reached just 2 per cent in 2024, while in Vietnam it jumped from 3 per cent in 2022 to 17 per cent in 2024, driven largely by domestic automaker VinFast. On the battery front, the report observed India 'has rapidly become a standout player', and shows 'meaningful activity in both cells and modules'. 'India is set to become the largest module producer outside China, the US, and Europe, with significant capacity already under construction and announced,' it said. However, it added that India's projected growth in batteries is primarily driven by projects still under construction or newly announced, 'indicating rapid recent momentum but more risk around delivery'. By 2030, India's cell production capacity will lag behind China, Europe, the US, and Canada, but surpass that of South Korea, Malaysia, Japan, and other countries.
Mint
6 hours ago
- Automotive
- Mint
Tata Harrier EV: Here are 5 features that make the SUV stand out from its rivals
Tata Motors has introduced its newest electric SUV, the Harrier EV, in India at an introductory starting price of ₹ 21.49 lakh (ex-showroom). This premium electric SUV enhances the homegrown automaker's strong presence in the Indian electric passenger vehicle market, where Tata Motors already leads the competition with its diverse array of products including the Tiago EV, Tigor EV, Punch EV, Nexon EV, and Curvv EV. (Also check out: Upcoming cars in India) As the Tata Harrier EV joins its aforementioned siblings in revitalising the EV segment, it also poses a challenge to competitors like the Mahindra XEV 9e and Mahindra BE 6, among others. The Tata Harrier EV comes loaded with a wide array of features, many of which are segment-leading. For those considering the purchase of an electric SUV in the above ₹ 20 lakh segment and feeling perplexed between the Tata Harrier EV and the Mahindra BE 6, this guide highlights the key features that the Tata SUV offers over its counterpart from Mahindra. Moreover, the Tata Harrier EV comes with an electric Boss mode for the co-driver's seat. This innovative feature enables the rear seat occupant to electronically move the front passenger seat forward, thereby increasing legroom and knee space for rear-seat passengers. Conversely, the Mahindra BE 6 features powered front seats with a memory function for the driver's seat, but does not provide this convenience technology. One of the most intriguing and unique features of the Tata Harrier EV is its Summon Mode, allowing the driver to move the vehicle forward or backwards using the key fob, without needing to enter the vehicle. Furthermore, this electric SUV features a reverse assist capability that recalls the last 50 metres driven and can automatically retrace the same route. Although the Mahindra BE 6 also offers automatic parking, it lacks the reverse memory feature. Additionally, the Tata Harrier EV not only presents a 360-degree view of the vehicle but also provides a remarkable 540-degree camera view. A notable feature is the added view of the terrain beneath the SUV's bonnet, which includes a transparent mode. This allows the driver to visually assess the terrain under the vehicle, facilitating easier driving on rough surfaces. The Mahindra BE 6, on the other hand, is equipped with a standard 360-degree camera with blind spot detection, but does not include an underbody view. A standout feature within the cabin of the Tata Harrier EV is its digital IRVM, which integrates a dashcam. This IRVM provides a live video feed captured by a roof-mounted camera, displaying the rear view of the vehicle. It includes various soft-touch buttons that enable the user to take snapshots, zoom in and out for better image or video details, and browse through older recordings and images. In contrast, the Mahindra BE 6 is equipped with a standard auto-dimming IRVM. The Tata Harrier EV is equipped with a larger 14.5-inch QLED touchscreen infotainment system, offering a plethora of connectivity features, in comparison to the Mahindra BE 6's 12.3-inch touchscreen infotainment unit. Both systems provide wireless connectivity options for Android Auto and Apple CarPlay. The Tata Harrier EV offers multiple terrain modes, comprising a total of six distinct options: Normal, Rock Crawl, Mud Ruts, Snow/Grass, Sand, and a Custom setting. In comparison, the Mahindra BE 6 is limited to just three driving modes: Range, Everyday, and Race.
Indian Express
8 hours ago
- Automotive
- Indian Express
India to be world's 4th largest electric car maker by 2030; must cut costs to compete with China: Rhodium
India's planned electric four-wheeler manufacturing capacity is set to rise over tenfold to 2.5 million (1 million = 10 lakh) units by 2030 — up from just 0.2 million today — making it the fourth-largest globally after China, Europe, and the US, according to new research by Rhodium Group. The New York-headquartered think tank estimates that India's electric car manufacturing capacity will outstrip domestic demand by 1.1–2.1 million units over the next five years. However, tapping export markets will require 'driving down costs' to compete with China, it said. By 2030, Rhodium projects India's electric car demand to reach between 0.4–1.4 million units, up from 0.1 million in 2024. With total car sales expected to hit 6 million, as per industry estimates, this implies an electric vehicle (EV) penetration rate of 7–23 per cent in four-wheelers. In contrast, production capacity is expected to reach 2.5 million units — comprising 0.2 million currently operational, 0.3 million ready but not yet online, 1.3 million under construction, and 0.7 million announced. 'This far exceeds India's projected 2030 EV demand (which likely reaches anywhere from 430,000 to 1.4 million vehicles depending on the pace of policy and battery costs), suggesting the potential for future exports. This push aligns with the government's strategy to 'Make in India for the world', but Indian companies will need to drive down costs if they want to compete with exports from China,' Rhodium said in its latest Global Clean Investment Monitor report. In 2024-25, Indian EV makers Tata Motors, MG Motor, and Mahindra dominated the domestic market with a combined share of nearly 90 per cent, according to data on the Vahan dashboard. India's anticipated production capacity of 2.5 million will be far behind China's 29 million, EU's 9 million, and 6 million in the US. 'India emerges as the leading player outside of China, Europe, and the US, edging out Korea and Japan in anticipated capacity,' the report said. While Japan and South Korea currently have higher operational capacities — 1.1 million and 0.5 million units respectively — both have limited capacity under construction or announced. By 2030, Japan's total capacity is expected to reach 1.4 million units, and South Korea's 1.9 million. 'India has charted a distinctive path in developing its EV industry, combining industrial policy with market incentives and a protectionist trade policy. The country launched consumer subsidies tied to tightening localization requirements, coupled with incentives for manufacturers of advanced batteries and EV components and an effort to expand charging infrastructure,' the report said. 'To protect local manufacturers, India has maintained import tariffs of up to 70–100% on fully built EVs. This protective stance has helped domestic production grow but also limits consumer choice and raises costs. Nearly 100% of India's EV manufacturing is for its domestic market,' it added. Comparing electric car sales growth, the report noted that EV penetration in India reached just 2 per cent in 2024, while in Vietnam it jumped from 3 per cent in 2022 to 17 per cent in 2024 — driven largely by domestic automaker VinFast. On the battery front, the report observed India 'has rapidly become a standout player', and shows 'meaningful activity in both cells and modules'. 'India is set to become the largest module producer outside China, the US, and Europe, with significant capacity already under construction and announced,' it said. However, it added that India's projected growth in batteries is primarily driven by projects still under construction or newly announced, 'indicating rapid recent momentum but more risk around delivery'. By 2030, India's cell production capacity will lag behind China, Europe, the US, and Canada, but surpass that of South Korea, Malaysia, Japan, and other countries. China is expected to lead with a cell manufacturing capacity of 4,818 gigawatt hours (GWh), followed by the US at 1,169 GWh, Europe at 997 GWh, and the rest of the world — including India — at 567 GWh. A detailed regional breakdown was not available.
