Market Chatter: Tata Motors Pushes Low-Cost EV Strategy Amid Protectionist Policies

MT Newswires Live03-10

Tata Motors Passenger Vehicles (NSE:TMPV, BOM:500570) is expanding its presence in India's electric vehicle market with low-priced models, benefiting from protectionist policies that favor domestic manufacturers, according to a Nikkei Asia report on Tuesday.

The company recently launched a revamped Punch EV priced at 649,000 Indian rupees. The vehicle uses a battery-as-a-service model, where customers pay 2.6 rupees per kilometre for battery usage, allowing Tata to keep the upfront cost low, the report noted.

Tata has relied on aggressive pricing and flexible battery models to expand its share of India's EV market, the report said. The strategy builds on the success of the Tiago EV, launched in 2022 at 849,000 rupees, which received over 10,000 pre-orders in a day, Nikkei noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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