TMPV Expects Electric Car Penetration To Reach 10 Per Cent By FY28
ECONOMY & POLICY

TMPV Expects Electric Car Penetration To Reach 10 Per Cent By FY28

Tata Motors Passenger Vehicles managing director Shailesh Chandra said electric car penetration in total passenger vehicle sales would surpass eight per cent in FY27 and reach 10 per cent in FY28 and the company retained its target for 30 per cent of sales from electric vehicles by FY31. He attributed the rise to new model launches by original equipment manufacturers, removal of barriers across segments and geopolitical pressures that accelerated adoption. He added that TMPV had a 40 per cent share of the electric car market.

Chandra said the company was scaling production as bookings had grown threefold year on year and it had a phased plan to raise annual manufacturing capacity to 1.3 million (mn) units from around 0.9 mn units. He outlined a growth roadmap that included planned capital expenditure of up to Rs 400 billion (bn) over the next five years as the firm pursued a 20 per cent share of the domestic passenger vehicle market by FY31. He expressed confidence in industry growth of about 10 per cent in FY27 against a broader consensus of five to six per cent.

Industry data from SIAM showed passenger vehicle sales in India reached a record 4.64 mn units in FY26, according to the company. TMPV said its electric volumes exceeded 10,000 units in May and that June volumes had likely risen by 30 to 40 per cent. The firm expected the introduction of the new Sierra.ev to boost volume further.

TMPV launched the Sierra.ev at an introductory price of Rs 1.879 mn, positioned in the mid sport utility vehicle segment against rivals. The model is offered with 75 kWh and 63 kWh battery pack options with claimed ranges of 665 km and 565 km on the MIDC cycle and the company stated the faster variant could sprint from zero to 100 kmph in 5.8 seconds. It reported that rapid charging could add up to 263 km in 15 minutes and that a charge from 20 to 80 per cent would take about 26 minutes.

Tata Motors Passenger Vehicles managing director Shailesh Chandra said electric car penetration in total passenger vehicle sales would surpass eight per cent in FY27 and reach 10 per cent in FY28 and the company retained its target for 30 per cent of sales from electric vehicles by FY31. He attributed the rise to new model launches by original equipment manufacturers, removal of barriers across segments and geopolitical pressures that accelerated adoption. He added that TMPV had a 40 per cent share of the electric car market. Chandra said the company was scaling production as bookings had grown threefold year on year and it had a phased plan to raise annual manufacturing capacity to 1.3 million (mn) units from around 0.9 mn units. He outlined a growth roadmap that included planned capital expenditure of up to Rs 400 billion (bn) over the next five years as the firm pursued a 20 per cent share of the domestic passenger vehicle market by FY31. He expressed confidence in industry growth of about 10 per cent in FY27 against a broader consensus of five to six per cent. Industry data from SIAM showed passenger vehicle sales in India reached a record 4.64 mn units in FY26, according to the company. TMPV said its electric volumes exceeded 10,000 units in May and that June volumes had likely risen by 30 to 40 per cent. The firm expected the introduction of the new Sierra.ev to boost volume further. TMPV launched the Sierra.ev at an introductory price of Rs 1.879 mn, positioned in the mid sport utility vehicle segment against rivals. The model is offered with 75 kWh and 63 kWh battery pack options with claimed ranges of 665 km and 565 km on the MIDC cycle and the company stated the faster variant could sprint from zero to 100 kmph in 5.8 seconds. It reported that rapid charging could add up to 263 km in 15 minutes and that a charge from 20 to 80 per cent would take about 26 minutes.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code