In 2021/22 FY Tata sold 19,105 EVs (up 353% from the prior FY). In 2022/23 FY TATA is targeting 50,000 EVs with 2023/24 FY doubling to 100,000 EVs. In the 4th largest vehicle global marketspace India wants 30% of passenger vehicles to be EVs by 2030.
Tata sells in Europe. Tata defeated Ford an Alien Invader in India. Roadkill – Ford in India. Selling tiny little EVs
TATA is buying the Ford plant in Sanand, Gujarat, (land, assets, and employee base) as Ford withdraws from India after only gaining less than 2% market share in more than two decades of sales. The plant has a targeted capacity of 300,000 vehicles per year with a possible expansion to 400,000. TATA will use some of the USD$1B in funds raised from hedge funds last year for Tata Passenger Electric Mobility to put new production machinery and equipment into the existing plant to make EVs. The venture is valued at USD $9.1B with Tata putting in USD $2B over five years. The scope of the venture includes EVs, charging infrastructure, and critical components like batteries. The investment is notable as a foreign direct investment while the foreign Ford is withdrawing.
Particular attention is focused on Tata as the owner of JLR (Jaguar Land Rover) already operating in Europe. Tata had previously been selling the Tata Nano in Europe as well. Tata is preparing to sell a variety of vehicles in Europe in competition with Chinese owners such as Geely Holdings (Volvo, Polestar, and Mercedes-Benz). An additional Alien Invader’s success in the EV marketspace will make profits even harder to find for French, German, and Italian vehicle manufacturers.
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