Tata Motors aims to regain 50% market share in Indian electric car segment, Harrier EV and Sierra EV to play key roles

Share via: Tata Motors aims to bring new products in the above ₹20 lakh segment of Indian electric car market, while in the lower pricing slab categories, the company targets to strengthen its grip by value propositioning of existing models. …Read More Tata Motors aims to bring new products in the above ₹20 lakh segment of Indian electric car market, while in the lower pricing slab categories, the company targets to strengthen its grip by value propositioning of existing models. View Personalised Offers on Notify me Tata Motors, which is the current leader in the Indian electric passenger vehicle segment, is aiming to regain its market share of 50 per cent in the mid-to-long term. To achieve this target, the carmaker is planning to expand its product portfolio as well as update the existing products. With the domestic electric passenger vehicle market fragmenting into four distinct segments on the basis of price brackets, Tata Motors is now gearing up to enter the above ₹20 lakh segment with its upcoming models like the Harrier EV and Sierra EV. Besides that, the OEM is also emphasising the fleet segment EVs to regain volume. Speaking to the news agency PTI, Shailesh Chandra, the Managing Director of Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility, revealed this plan. He also stated that the homegrown auto major is working to make the total cost of ownership (TCO) of its electric vehicles in the fleet segment comparable to that of CNG vehicles to regain volumes. “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 expectations of the customers,” Chandra said. He further added that by mid-term, he meant 18-24 months and beyond. Also Read : Upcoming cars in India Tata Motors currently has a wide range of electric cars on offer, which include the Tiago EV, Tigor EV, Punch EV, Nexon EV, and Curvv EV. The Harrier EV and Sierra EV will join the lineup soon, with the former being ready for launch on June 3 and the latter expected to hit the market later this year. With the existing models as well as the upcoming ones, Tata Motors is looking to maintain its leadership position in the Indian electric passenger vehicle market in the wake of intensifying competition from rival brands. Chandra said that Tata’s market share in the Indian electric car market is down to about 40-41 per cent at present, compared to about 55 per cent last fiscal. This is mainly on account of a drop in fleet sales and intense competition in the ₹12 to 20 lakh segment. Tata Motors sold about 65,000 EVs in FY25, a drop of 10 per cent compared to FY24. Acknowledging that in the short term, Tata Motors will face challenges, Chandra said that 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. He also noted that the passenger EV market in the country is now segmented into four pricing categories – ₹8-12 lakh; ₹12 to 20 lakh; above ₹20 lakh, and the fleet 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. Tata Motors’ EV plan: What’s aheadChandra has elaborated on how the auto company is preparing to regain its overall market share in the Indian electric passenger vehicle segment. He said that in the ₹8-12 lakh segment, where it has Tiago EV, Tigor EV and Punch EV, the OEM owns 75 per cent market share and is very comfortable. However, it aims to expand this segment with the value proposition of the existing products. This hints at upcoming updated iterations of the Tiago EV, Tigor EV and Punch EV. According to Chandra, the ₹12-20 lakh segment is the most crowded space 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,” he explained. The Tata Motors official also said that there is another segment beyond ₹20 lakh, which is emerging fast, and the company is 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,” he added. Check out Upcoming EV Cars in India. First Published Date: 26 May 2025, 08:13 AM IST
Source: hindustantimes.com