India’s Path towards Electrification

Authors

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., Mumbai: 

Year

2023

Print Info

Production/Publication ÖVK

Summary

India’s path towards electrification has been evolving rapidly, especially in the last 3 years. India’s automotive industry contributes nearly 7% of India’s GDP and directly and indirectly employs 19 Million people. Electrification is a larger imperative for India as it addresses key issues of national interest. The government has played a big role in India’s electrification path. In FY20 (Fiscal Year), there were just 2 EV manufacturers, with 2 models selling about 1,000 to 1,200 EVs a year. Today in FY23 there are 7 players with 12 offerings in the market. The significant running cost advantage further creates demand traction. The public charging infrastructure is growing steadily. In FY21 there were only 200 public chargers available. This year, it is beyond 6,000. TATA is confident that the critical mass of EVs is now on the road, which is now nearly 100,000 in the country. Thus, there is enough confidence for other charging infrastructure players to join. TATA has seen exponential growth of EV selling in the last 2 to 3 years. TATA optimized the vehicles for the best range, feature, and price balance. TATA Motors leads the EV market with an 81% market share in India. Most manufacturers have announced to produce electric vehicles. More than 30 mass EVs will be available by 2026. TATA Motors itself is going to launch 10 EVs in multiple body styles. TATA sees for 2028 more than 1 million EV sales every year in India.

ISBN

978-3-9504969-2-5