Tata Motors Making Big Plans for Evs, to Invest Rs 35,00 Crore in 5 years

Tata Motors, one of the large automobile companies, have made a big plan for the segment of electric vehicles (EV). For this, the company will invest Rs 35,000 crore (about 4.1 billion dollars) in the next five years. EV sales have increased rapidly over the years. The target of Tata Motors is to strengthen its position in this market.

Competition has increased in the market of vehicles with internal combustion engines. In this, Tata Motors are getting a tough competition from automobile companies like Mahindra & Mahindra. The world’s third largest automobile market is being tightened by the emissions in India. The Central Government plans to increase the share of EVS to about 30 percent by 2030 in the total sales of cars.

However, in the EVS segment, Tata Motors is getting a challenge from companies like MG Motor. For the past few months, MG Motor has increased its share in this market rapidly with Windsor EV. Last month, the sale of electric cars has crossed the four percent mark for the first time. It was 2.6 percent in the same month of last year. In April this year, the sale of electric cars was around 3.5 percent. According to data from the Federation of Automobile Dealers Association (FADA), electric cars have been sold in May 12,304 units. It was 8,029 units in the same month of last year.

Earlier this month, Tata Motors launched an electric version of its popular SUV Harrier. The Harrier EV has some new features as well as next-generation technology. Its MIDC range is about 627 km. The initial price of Harrier EV is about Rs 21.49 lakh (ex-showroom). Bookings for this will start from July 2. The company has stated that Harrier EV can reach a speed of 0 to 100 km/h in only 6.3 seconds. With this, it will be the fastest speed catcher EV in this segment. It has a 75 kwh battery pack. It can be charged for a range of 250 km in just 15 minutes from Quick Charger.