Tata Motors plans 10 electrics, 30% EV mix by FY31

NEW DELHI: Tata Motors is stepping up its electric vehicle push, aiming for EVs to account for 30% of its passenger vehicle sales by FY31 as it expands its electric portfolio from six models currently to 10.

The plans were outlined at Tata Motors’ Investor Day presentation, where the company laid out its road map for the next five years.The automaker expects annual EV volumes of 3.5-4 lakh units by the end of the decade and believes electric vehicles could make up 15-20% of the overall passenger vehicle market by then. Alongside EVs, Tata expects CNG-powered models to gain ground, with EVs and CNG vehicles together accounting for nearly 45% of the market by FY31. As part of its growth strategy, the automaker shared plans of expanding its overall passenger vehicle line-up from nine models to 15 by FY31, adding six all-new nameplates and carrying out more than 20 product interventions, including facelifts, feature upgrades and new variants.