Tata says EVs will now contribute 30% of total volumes by 2030

EVs will make up 3-4 lakh units, which is still 4 times higher than the current annual sales of 73,000 units.

Tata Motors has revised its EV sales target due to the slowing growth in the segment. During a recent event, the company said that EVs will now contribute 30% of total volumes by 2030 and not 50% as forecasted earlier.

Tata Motors estimates the Indian passenger vehicle market will breach the 6-million-unit mark by FY2030. The carmaker is aiming for a market share of 18-20%, which is about 1-1.2 million annual sales. EVs will make up 3-4 lakh units, which is still 4 times higher than the current annual sales of 73,000 units.

Tata Motors’ EV sales have been hovering around 5,500-7,500 units for the last few quarters. The carmaker sold fewer EVs in April and May of FY2025 compared to the previous fiscal. This could be an indication of a slowing market.

On the other hand, CNG vehicle sales are estimated to grow in the years to come. At present, CNG contributes 15% of the total passenger vehicle sales. Tata expects this to reach 25% by the end of this decade.

The share of EVs is also expected to rise from the current 2% to 20%, which is why Tata plans to increase its investment in its EV business. The carmaker plans to invest Rs 16,000-18,000 crore by FY2030.

Currently, Tata Motors’ EV range includes the Tiago.ev, Tigor.ev, Punch.ev and Nexon.ev. The company has also lined up two new models – the Curvv EV and Harrier EV.

Source: Autocar India