Tata Motors is registering incredible growth in the EV segment. The Indian automobile manufacturer has revealed the sales figures for December 2021 as well as the third quartered of FY22. The company has registered an astounding growth of 345 percent in the third quarter of FY22. Tata Motors is one of the very few companies that are producing electric cars on a mass level. The Tata Nexon EV and Tata Tigor EV were the showrunners for the company in the electric car segment.
Tata Motors has registered a total sale of 2,255 units of EVs in the month of December alone. In December 2020, Tata Motors had only sold 418 units of its EVs. The company has registered a growth of 439%. The company has not only breached the 2000 mark sales on a month-to-month basis, the sales are almost double of what the company had achieved in the Q2 FY21.
In Q3 of FY22, the company sold a total of 5,592 units of its EVs. In comparison, for the same period in 2020, Tata Motors sold 1,256 EVs registering a growth of 345 percent.
Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, Records were also created on the EV front as EV sales witnessed a new peak of 5,592 units in Q3 FY22 (growth of 345% vs Q3 FY21). Consequently, EV penetration touched 5.6% of PV Sales during the quarter versus 1.8% in the same period last financial year. EV sales also touched 10,000 units in 9MFY22 and crossed 2,000 monthly sales landmark for the first time in Dec’21 (2,255 units). The ever-increasing demand for Nexon EV and Tigor EV as well as progressive revival of the EV fleet segment were instrumental in driving this steep growth. Going forward, semi-conductor supplies will remain the key source of uncertainty. Additionally, the impact of the new strain of Covid needs to be closely tracked. We will continue to work on business agility plan and take proactive actions to mitigate these risks.”
Tata Tigor EV
The Tata Tigor EV was launched in August last year and it has been priced under the Nexon EV. Both cars are based on Ziptron technology. Tigor EV comes with an ARAI driving range of just above 300 km. However, the true driving range may be lesser.
Tata Motors is expected to grow the portfolio of EVs in India by launching a new Tata Altroz EV. This is expected to be priced in the same range as the Tata Tigor. The official launch date for the vehicle is not out yet.
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