Tata Motors: Company wants to achieve 50% market share in electric PV segment

Tata Motors, a major player in the domestic electric passenger vehicle segment, wants to regain its market share of 50 per cent in the mid to long term by expanding its product portfolio. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, told PTI in an interview that with the domestic electric passenger vehicle market divided into four different segments based on price point, the company will enter the category above Rs 20 lakh with its upcoming Harrier.ev and Sierra.ev.

He said the company is working to bring the Total Cost of Ownership (TCO) of EVs in its fleet segment to parity with CNG vehicles to regain its sales. Chandra said by mid-term he means 18-24 months and beyond.

Target of 50 percent market share

He said, “We aspire to maintain our market share above 50 percent in the mid to long term. We aspire to reach 50 percent market share through a very wide product portfolio and products in line with customer expectations.” He said that the passenger EV market is now divided into four segments – Rs 8-12 lakh; Rs 12 to 20 lakh; more than Rs 20 lakh and fleet segment. Chandra said that the company’s market share is currently around 40-41 percent, which was around 55 percent in the last fiscal, mainly due to the decline in fleet sales and intense competition in the Rs 12 to 20 lakh segment.