Big Bets! Tata Motors sees EV constituting half of the portfolio by 2030

Tata Motors is betting big on the electric vehicle business through several product launches as it aims to increase its share in the total portfolio significantly by 2030.

“The EV contribution in our portfolio is likely to increase to 25% in 5 years, and reach 50% by 2030,” the company said in its annual report for 2022-23 (April-March).

Tata Motors’ EV sales crossed the 50,000 annual sales milestone, and constituted 12% of the sales portfolio in the March quarter. Being the largest player in India’s electric vehicle market, Tata Motors increased its volumes from 1,300 units to over 50,000 in a span of three years.