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

06 Jul 2026 CW Team

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.

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