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
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement