The Tiago EV would be the company’s third product in the electric space, following Nexon and Tigor, both of which were announced on World EV Day. Nexon EV and Tigor EV currently serve the personal market, while Xpres T serves the fleet market.
Overall, Tata Motors has said it will introduce ten electric vehicles spread across segments, body styles and price brackets in the next five years.
“Today is a momentous occasion for us, as we announce the expansion of our EV portfolio further with a new mainstream intervention from the stable of Tata Motors, the Tiago EV,” Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said. Earlier this year, the company had unveiled a three-phase approach towards building a comprehensive EV portfolio.
Chandra informed, “As a leader, we are now pioneering the next phase of the EV market expansion, which will bring all the EV benefits of an exciting yet easy drive, silent cabin, low cost of ownership to a more accessible level,” he added.
The automaker said it remains committed towards realising the vision of making India the EV hub of the world. Chandra said that Tata Passenger Electric Mobility (TPEM) had been established with TPG Rise Climate to offer new mobility solutions. TPEM aims to support the government’s vision to have 30% electric vehicle penetration by 2030, Chandra said.
Tata Motors currently leads the passenger vehicle EV market in India, with a market share of around 88%. “As early entrants, we have shaped the market and seen it grow with Nexon EV and Tigor EV. We have over 40,000 Tata EVs plying on the road,” Chandra said. The company plans to release detailed specifications and price ranges for the Tiago EV in the coming weeks.
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