- 18 Jan 2024
- ICICI Securities
LAUNCHES PUNCH.EV AT AN INTRODUCTORY PRICE OF ₹ 11 LAKH
TATAMOTORS - 670 Change: -4.50 (-0.67 %)News: Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors and the pioneer of India’s EV revolution, launched its first pure EV – the Punch.ev. Starting at an introductory price of ₹ 10.99 Lakh/unit, the Punch.ev is now available at all Tata Motors showrooms authorized for EV sales and Tata.ev stores across the country. It is being offered across two range options; with normal range Punch.ev being launched in the price range of ₹11-13.3 lakh/unit and long range Punch.ev being made available in the price range of ₹13-14.5 Lakh/unit.
Views: Punch.ev is company’s first product based on its recently introduced, advanced Pure EV architecture – acti.ev. It is available in three distinct variants i.e. Smart, Adventure and Empowered. It is being offered in two battery pack options i.e. 25Kwh with 315 km as certified range and 35 KwH with 421 km as certified range. The price point at which this model is launched is lucrative from the customer standpoint considering it is an Electric Vehicle in the compact/mini-SUV segment. We expect this to accelerate EV sales at Tata Motors going forward. Media articles indicate that company is targeting sales volume of ~1 lakh units in E-PV domain in FY25E vs. ~50k units sold in FY23.
Impact: Positive