Tata Motors expects EV volumes to double in FY-23, says PV market may hit a new peak
Tata Motors expects its electric vehicle sales to more than double in the current financial year, backed by strong demand for cleaner vehicles amid rising fuel prices. Also, given a sustained increase in orders, the company predicts India’s overall passenger vehicle market to scale to a new peak.
The manufacturer of the Tigor and Nexon EVs is working to debottleneck production amid a continuing shortage of semiconductors, and hopes EVs to account for 10-15% of its total passenger vehicle sales in the new fiscal year. Based on its current production schedule, that would be about 50,000-75,000 EVs, an at least a two-and-a-half-fold increase from last fiscal year.
