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Tata Motors
Tata Motors Passenger Vehicles (TMPV) on Tuesday said it will roll out five new electric vehicle models, including the premium product range Avinya by FY30 as it looks to retain a dominant market share of 45-50 per cent in the segment which continues to expand in the country. The company said it plans to invest Rs 16,000-18,000 crore in the EV business by FY30 including products and taking charging infrastructure to over 10 lakh points across the country. "As EV adoption accelerates, our commitment remains clear: to mainstream electric mobility by making it accessible across segments, strengthening the ecosystem, and investing in India-first technology and localization. This is how we will continue to lead India's growing EV market," TMPV MD & CEO Shailesh Chandra said. TMPV commands a dominant share, accounting for nearly two-thirds (66 per cent) of all electric passenger vehicles sold in India. The company has the country's largest EV portfolio for personal mobility - Tiago.ev,
Leading car maker Tata Motors is against granting exemption to small petrol vehicles weighing up to 909 kg from the strict Corporate Average Fuel Efficiency (CAFE) standards, saying it would be detrimental for the growth of adoption of models based on sustainable technologies in the country. In a letter to PMO, the Mumbai-based auto major said India's ability to innovate and leapfrog into technologies of the future is now starting to bear fruit, with EV adoption growing to reach nearly 5 per cent in passenger cars. "In this context, we would like to highlight that the provision to grant relaxations/exemptions for petrol vehicles up to 909 kg weight not exceeding 1200 cc and length not exceeding 4000 mm, may result in diluting the focus on adoption of sustainable technologies," the company said in a letter to Shaktikanta Das in the Prime Minister's Office. Relaxations based on vehicle weight may inadvertently incentivise OEMs to reduce weight at the cost of essential safety features,
Domestic passenger vehicle volumes are likely to grow by around 5 per cent this fiscal, with double-digit growth anticipated in the second half as pent-up demand remains robust even after the festive season, according to Tata Motors Passenger Vehicles MD and CEO Shailesh Chandra. The April-September period this fiscal witnessed a 1.6 per cent year-on-year decline, and it was only the festive period that passenger vehicle sales rebounded in the domestic market. The sales volume in the October-March period should grow in double digits, Chanda said during an analyst call. He noted that the industry witnessed a growth of 5 per cent and 17 per cent in September and October, respectively, due to festive demand. The pent-up demand still continues to overflow in November and December, and both months should be strong in business terms, he added. "So, overall, in the financial year, because the first half had seen a decline of 1.6 per cent before the festive period, it should be in the zon
InterGlobe Aviation, the operator of the country's largest airline IndiGo, will find a place in BSE's 30-share benchmark index Sensex from December 22, the BSE Index Services said on Saturday. At the same time, Tata Motors Passenger Vehicles Ltd will be dropped from the index, it added. The changes have been announced by BSE Index Services Pvt Ltd (formerly Asia Index Pvt Ltd) as a part of the reconstitution of its indices, effective at the market open on Monday, December 22. In the BSE 100 index, IDFC First Bank Ltd will be included, replacing Adani Green Energy Ltd. Within the BSE Sensex 50, Max Healthcare Institute Ltd will be added, and IndusInd Bank Ltd will be removed. Meanwhile, in the BSE Sensex Next 50 index, IndusInd Bank and IDFC First Bank will replace Max Healthcare Institute Ltd and Adani Green Energy.