Tata Motors, which is the country’s largest EV manufacturer, is set to further worry rivals as it plans to launch a compact car later this month priced around Rs 10 lakh.
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Rivals far behind
This price tag makes it the cheapest EV by any manufacturer so far.
The carmaker already has the cheapest EV in the market with Tata Tigor, which is priced at Rs 12.49 lakh.
In contrast, offerings by other EV manufacturers like Hyundai and Kia are priced above Rs 20 lakh.
Maruti Suzuki India itself admitted its inability to come out with an EV priced under Rs 10 lakh.
It will come out with its first EV in 2025.
Cheapest and smallest
Upon launch, the new Tiago EV will be not just the cheapest but also the smallest EV in not just Tata Motors’ line-up but in the whole country.
This will be the company’s third Tiago EV model and one among 10 models the company has promised to launch by 2026.
Details such as battery capacity, vehicle power and the exact price will be shared at the time of its launch.
Pricing
The starting price of the petrol version of Tiago is Rs 5.4 lakh.
Typically the price of the electric variant of the model is nearly double compared to the petrol variant.
So it makes sense that the upcoming EV will be priced around Rs 10 lakh.
Early bird caught the worm
The Tiago EV launch announcement coincides with the World EV Day on September 9.
Tata Motors has managed to secure dominance with 88% of the EV market with just two models – Nexon EV and Tigor EV.
Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said that the company has been able to shape the market as early entrants.
“We have over 40,000 Tata EVs plying on road and we are grateful to the early adopters who have shown faith in the brand”, he said.
Ramping up production to meet 50K target
Between April and August, Tata Motors has sold 17,150 electric vehicles.
It is targeting sales of 50,000 EVs this financial year through a significant ramp up in production capacity.
Recently, it agreed to buy Ford Motor’s plant in Gujarat to use it to produce EVs.
The initial annual capacity of that plant will be 300,000 units per annum.
The “three phased approach”
Chandra added that earlier this year it unveiled its three phased approach towards building a comprehensive EV portfolio.
It is committed to launch 10 EVs in different product segments, body styles and affordability levels.
The electric Tiago was first showcased in 2017 by Tata Motors European Technical Centre.
That model used a liquid-cooled 85 kW motor that generates 20Nm of torque and a drive range of 100 km on a single charge.
Expected battery, range, charging time
The current one is expected to come with a 26 kWh battery and an electric motor that puts out 74 bhp of power and 170 Nm of torque.
The battery pack is expected to provide a range of up to 310km on a single charge.
If compatible with fast charging, the electric hatchback could be recharged from 0-80 per cent in 60 minutes.
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