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News: On the world EV day, Tata Motors has reiterated its commitment towards driving electrification in the PV segment domestically wherein it intends to introduce 10 EV models over a five year period. Taking a further step ahead, it announced the new offering as Tiago EV in the compact car segment with launch expected in due course of time.
View: Tata Motors is leading the EV charge domestically in the PV segment with 88% market share with currently two nameplate offerings i.e. Nexon (Compact SUV) and Tigor (Compact Sedan). With Tiago EV it aims to further augment its presence and is expected to be a more affordable offering aimed at wider consumer audience with price expectation of Rs10 lakh/unit (ex-showroom).
Impact: Neutral.