Automakers Tata Motors and the British company MG Motors have reportedly been working on building affordable electric vehicles for the Indian market, states a source.
These auto companies aim on building affordable electric vehicles in the range or under Rs 8 lakh, and MG Motors is known to be looking for potential funding options to start working on building an affordable EV for India.
As per source reports, both the automakers will be coming up with hatchback electric vehicles in an affordable range.
Tata Motors & MG Motors EVs
As per ET sources, the two auto giants are working upon building affordable EVs for the Indian market.
In the domestic market, Tata Motors EVs are the market leaders, with Tata Tigor EV being the most affordable electric vehicle in the market as of now, starting from Rs. 11.99 lakhs ex-showroom price.
So it is safe to say the Tata giant is leading the niche and highly conducive EV space in India.
TaMo is now working towards launching a cost-effective EV that would be priced within the Rs 8 lakh mark. Sources have stated that this vehicle priced under the Rs 8 lakh range has been codenamed as the ‘Challenger Series’.
As per ET, this upcoming Tata EV will be a hatchback model and so there’s a high chance for it to be an electric version of the Tiago or the Punch.
However, there are higher chances of it being a Punch EV because the car design is being highly appreciated by customers and also because it is based on the ALFA platform which can be modified to electrified more easily.
This hatchback EV model will be launched in 2024.
Besides, the British auto manufacturer MG Motors is also looking forward to releasing an EV in the Rs 8 lakh range, as it’s current EV model is priced quite on the expensive side at Rs 21.99 lakhs ex-showroom, the ZS EV.
It is also likely to launch an electric hatchback, and is currently in the hunt for funding options to start working on the project.
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