Electrification is the cornerstone of Indian Prime Minister Narendra Modi`s climate change and carbon reduction agenda.
Tata Motors expects the second half of the current fiscal to be better as the automaker aims to sell about 50,000 electric vehicles (EVs) in the fiscal year to March 31. The company also hopes for a better overall supply situation and stabilisation in commodity prices with double EV sales in 2023/24 period. The plans were shared by Tata Motors Chairman N Chandrasekaran with shareholders in a meeting on Monday.
"The overall supply situation, including that of semiconductors, is gradually improving and commodity prices are stabilising... Accordingly, expect performance to progressively improve through the year with the second half of FY23 being notably better than the first half," he noted.
In 2021/22, Tata Motors sold 19,105 EVs, a growth of 353% from the previous fiscal year.
The demand for vehicles in each of the company 's businesses Jaguar Land Rover, commercial vehicles and passenger vehicles -- remain strong despite ongoing geopolitical, supply and inflation concerns, Chandrasekaran stated.
He noted that the shift to sustainable mobility is irreversible and the Tata Motors Group will be amongst the leaders of green mobility, globally. "We aim to get to net zero emissions (Scope 1, 2 and 3) by 2039 for JLR, 2040 for PVs and 2045 for CVs. A clear road map is being drawn and several actions are already underway to deliver the same," Chandrasekaran stated.
Electrification is the cornerstone of Indian Prime Minister Narendra Modi`s climate change and carbon reduction agenda and EVs are seen as a way to help India to cut its oil import bill and reduce pollution in major cities.
India wants electric models to make up 30% of total passenger car sales in the country by 2030, up from about 1% today, and e-scooters and e-bikes to account for 80% of total two-wheeler sales, up from about 2%.
(With inputs from agencies)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Tata Motors")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}