Tata Motors Ltd. plans to launch the Tiago EV later this month to enter the electric hatchback segment.
The Tata Tiago EV would be the automaker's third electric car after Nexon EV and Tigor EV. These cars cater to the personal segment, while Xpres T is for the fleet segment. Tiago EV's specifications and price range will be released in the coming weeks.
"Today, is a momentous occasion for us, as we announce the expansion of our EV portfolio with a new mainstream intervention from the stable of Tata Motors -- the Tiago EV," Shailesh Chandra, managing director at Tata Motors Passenger Vehicles, said. The launch is part of Tata Motors' approach towards building a comprehensive EV portfolio, he said.
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Tata Motors, Chandra said, is committed to launch 10 EVs in different product segments, body styles and affordability levels in the next five years.
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"As a leader, we are now pioneering the next phase of the EV market expansion, which will bring all the EV benefits of an exciting yet easy drive, silent cabin, low cost of ownership to a more accessible level," he said.
According to Chandra, Tata Motors is committed towards realising the vision of making India the EV hub of the world. To that end, Tata Passenger Electric Mobility has been established with TPG Rise Climate to offer new mobility solutions, he said. Tata Motors' EV vertical aims to ride the green wave and support the government's vision to have 30% EV penetration by 2030, Chandra said.
Tata Motors currently leads the electric car market in India, with a market share of around 88%. The Nexon EV, its best-selling model, tops the sales charts. "As early entrants, we have shaped the market and seen it grow with Nexon EV and Tigor EV. We have over 40,000 Tata EVs plying on the road," Chandra said.
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