While many companies are struggling to capture the Electric Vehicle market in India, Tata Motors bags 82% share of market-leading the industry from the very start of the year, 2022. Tata motors won its chance of impressing the target audience by introducing the Tigor EV in 2021 (journey begins of Tata Motors Monopoly in Electric Vehicle Market).
However, what differentiates Tata motor from other companies?
The ecosystem of Tata Motors includes raw materials, manufacturing plants, and resources. Tata motors manufacture cars, vans, and trucks under three major brand names called Land rover, Tata, and Jaguar.
It has expanded its sales in Europe, America, Asia-Pacific, Africa, etc. Tata motors’ sales revenue increased over three years due to the increase in the demand in the domestic market. The company can comply with all of it because of its strong fundamentals and manufacturing eco-system.
Tata Motors Monopoly in EV Market?
Tata Motors has made an exception by acquiring an edge in the EV industry. How about we unfold the remarkable and promising highlights of Tata engines which permitted it to sack 82% offer in the EV market?
- The significantly affordable prices of Tigor EV and the conventional engine put a tough challenge in front vehicles like sedans. Tata motors adopt an aggressive pricing policy to let customers afford Electric Vehicles.
- The petrol engine costs around ₹5.5 lakhs for Tigor EV while companies like Hyundai Aura and Maruti Suzuki Dzire price their petrol engine above ₹6 lakhs.
- Tata motors kept its focus more on interior designs including the tri-arrow-themed and comfortable seats for the people. The premium & luxurious look of the cabin catches the eye of people looking for an efficient, affordable, yet royal electric vehicle.
- The EVs can be charged in an hour with the help of CC2 charging for more than 70%. However, one can use any 15 AMP plug point to regularly charge the vehicle. It will take approximately 8-9 hours to charge 90% battery.
- The Ziptron technology which is a technology developed by ‘Tata passenger electric mobility limited’ gives an edge to the Tigor EV as compared to other companies in the market. The Ziptron Technology is best suited for the extreme weather conditions and terrains in India.
Therefore, with Nexon EV already writing the story of the success for Tata Motors, the modified model, Tigor EV is expected to replicate the story. Tata motor is run with the vision of Mr. Ratan Tata which is to make Electric vehicles accessible to every individual in the country.
The attempt in the direction of achieving the same vision allowed them to expand the EV market and bag an 82% share in the industry.
Sales of Tata Motors in recent years
Tata Motors successfully sold 350 EVs in the financial year 2019, which later expanded to more than a thousand vehicles in the next financial year and to 4,200 in 2021. Its EV volume in the continuous FY22 is supposed to be 17,000-18,000 units. In the initial nine months of FY22, Tata Motors sold around 10,000 EVs.
Like, Tata Motors sold 492 passenger electric vehicles in the year February 2021, whereas Tata Motors sold 2,846 passenger electric vehicles in the year, February 2022. A total of approximately 478% increase in sales.
Tata Motors EV Product Portfolio
Currently, the company is offering two of its electric cars for the Indian electric four-wheeler market. Best selling Nexon EV and Tigor EV with Ziptron technology.
|Electric Cars||Price (ex-showroom)|
|Tata Nexon EV||Rs. 14.54 Lakh to Rs. 17.15 Lakh|
|Tata Tigor EV||Rs 12.24 lakh to Rs 13.39 lakh|
Tata Motors’ EVs are making a space in the market after several trial-and-error methods. While other companies are trying to scale their market by supporting hybrid EVs, Tata motors held a strong stand in the favor of Electric vehicles.
Therefore, as the market for EVs expands in India, Tata Motors plans to expand its ecosystem and benefit the entire society with the same.