Tata Motors is a popular electric vehicle company which through its EV arm – Tata Passenger Electric Mobility (TPEM) – currently dominates India’s passenger electric vehicle market with a significant 73 percent market share by end-FY24.
Tata Motors to invest Rs 16,000-18,000 crore in EV by the turn of the decade
As a leader, the company is looking to invest more money for future projects. According to the latest information, Tata Motors is to invest Rs 16,000-18,000 crore in EVs by 2030.
TPEM, which clocked overall volumes of 73,833 units in FY24, registering a 48 percent year-on-year growth, saw EVs contribute to nearly 13 percent of Tata Motors’ cumulative passenger vehicle volumes of 582,915 units in the entire fiscal year.
In an investor presentation released on June 11, Tata Motors mentioned that as necessary, it will undertake this mega investment in its EV business between FY25 and FY30, to achieve its future growth targets, wherein it also eyes an EBITDA breakeven in TPEM by FY26.
In terms of community charging points, TPEM aims to achieve a 23x growth from over 4300 charging points by FY24, to over 100,000 points by end-FY30. The company will also leverage synergies between EVs and rooftop solar (RTS) to further drive EV adoption, as well as accelerate its net-zero vision. The company estimates the contribution of renewable energy used for charging its electric vehicles to grow from the currently pegged 33 percent to nearly 70 percent by FY30.
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