New Delhi: Tata Motors targets to strengthen its Indian market position by achieving 18-20% market share by this decade end, said the company at its Investor meet presentation.
The company aims to transit from 14% (FY24) to 16% market share with the expansion of its portfolio like Tata Curvv and Sierra and other CNG models. After achieving this, Tata aims higher to 18-20% market share by FY30 via bringing new nameplates in its EV and CNG cars.
“Additional nameplates in new segments and powertrains will increase our addressable market,” the company said.
Tata Motors growth is driven by its Punch and Nexon which ranked first with holding 40% and 28% market share respectively. In the high SUV segment Harrier and Safari ranked 2nd with 26% market share.
EV and Rooftop Solar(RTS)
Tata Motors aims to create a synergy between EVs and Rooftop Solar (RTS) to drive EV adoption and accelerate the path to Net Zero. It will cross promote RTS and EVs for customers.
The company targets to increase Tata.ev users with RTS to 50% by the decade-end which currently is at 10-15%. This it will do by creating a bundled offering for EV & RTS to provide tangible financial benefits to customers. It will also capture the benefits from PM Surya Ghar Yojana to drive adoption in upcountry markets.
Multi-powertrain strategy
Tata’s multi powertrain strategy has provided positive results for the company in May 2024 with being the top electric PV seller. Tata May sales reached 5,083 units which is 2.56% higher than its April sales, said FADA in its report. However, it is to be noted Tata Motors EV sales dropped 15.54% Y-o-Y.
By this decade’s end Tata Motors will strengthen its CNG and EV market share via new product launches like iCNG Nexon and new advanced technology features to address the current demand. The company will introduce 10 new EV models by FY26 under its motto of “mainstreaming EVs in India”.
JLR (Jaguar Land Rover) will share an EMA platform for the development of Avinya, accelerating the company’s entry into the premium pure EV segment. Agratas will drive battery security and cost benefits, which will be a key competitive differentiator in EV space, the company said.
3Es of Tata Motors
Tata Motors bets on 3Es to drive its sales and to make India electrified.
1) Expansion: The company is planning to roll out new products on Indian roads which include Tata Curvv.ev which was showcased in Bharat Mobility Expo 2024. By FY25 the company plans to roll out Curvv.ev and Harrier.ev with higher range, digital advancements and enhanced experience.
By FY26 it will rollout Sierra.ev and the teased Avinya to strengthen its market position in India.
2) EV Ecosystem: “Leveraging Acti.ev and EMA, we will address key barriers in terms of range technology,” the company said. The company has tied-up with Tata Power, ChargeZone, HP, Bharat Petroleum, Shell, and many more to enhance the Indian EV ecosystem. It aims to drive both public chargers and community chargers growth to address different use cases.
TPEM has an Integration of API for unified platform that aids in providing location insights for chargers.
3) EV Channel: Tata Motors will expand to key cities/areas to cater its potential EV customers. It aims to open EV-exclusive channels in a phased manner. It targets to expand its EV-exclusive in 50 cities over the next 24 months. The selection of the outlets locations are going to done through micro-market analysis.
