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Tata Group bets big on the electric vehicle ecosystem

Updated : January 28, 2020 04:32 PM IST

Chiefs of Tata Power, Tata Chemicals, Tata Auto Components, Tata Motors Finance, Croma along with Tata Motors announced their EV plans

N Chandrasekaran believes that the fleet segment would be viable on its own within the next 3 years

On the sidelines of Tata Motors launching the electric variant of its compact SUV Nexon, six Tata group company CEOs came together in Mumbai on Tuesday to showcase the group efforts at creating a comprehensive ecosystem for electric vehicles in the country.

The chiefs of Tata Power, Tata Chemicals, Tata Auto Components, Tata Motors Finance, Croma along with Tata Motors, spoke about the initiatives each company was taking to further the electric vehicle ecosystem.

Tata Power

Praveer Sinha of Tata Power spoke about expanding its electric charging network from the current 100 to 300 by March 2020 and 650 over the next year.

Tata Chemicals

Mukundan of Tata Chemicals talked about investing in making electric cells locally. Rs.100cr has already been invested towards this for the purchase of land in Dholera, Gujarat. Mr. Mukundan spoke about an additional investment of approximately Rs.800 crore in the next three years.

Tata AutoComp Systems

Arvind Goel of Tata AutoComp Systems highlighted that localization across components would be the big push from the company. He also said the company has entered into a joint venture with a top Chinese e-mobility solutions provider.

Tata Motor Finance

Samrat Gupta of Tata Motor Finance emphasised that it will put all its might in terms of providing financing to Tata Motors electric push - this includes not just personal vehicles but the fleet and corporate segments as well.

Croma

Avijit Mitra, CEO of the group's electronics retail arm, Croma, promised to provide an immersive experience at the stores for the prospective Nexon EV buyer.

Tata Motors

Guenter Butschek, CEO & MD of Tata Motors along with Shailesh Chandra, President, Electric Mobility Business of Tata Motors emphasized that the group companies will continue to come together to help further the electric mobility ecosystem.

A question that often comes up is – whether electric vehicles are sustainable without government subsidies? Mr. Chandra believes that the fleet segment would be viable on its own within the next 3 years. He emphasized that if battery prices continue to fall, the all-important personal vehicle space could also stand on its own legs, without the need for subsidies. Mr. Butschek signed off by saying that Tata Motors wanted to be the biggest player in the electric vehicle space in the country.

Tata Group bets big on the electric vehicle ecosystem

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