Tata Motors sets ambitious EV vehicle sales target for FY23ETATAMOTORS - 405 Change: 1.05 (0.26 %)
News: As per media sources, Tata Motors is targeting ~50,000 volume prints for FY23E in the domestic electric vehicle domain (passenger vehicle segment) and further expand to ~1.25-1.5 lakh units by FY25E.
Views: Tata Motors is currently the market leader in the domestic electric vehicle domain (passenger vehicle segment) with Nexon as its flagship product and market share pegged at ~70%. It clocked ~2,250 units for December 2021. The target of ~50,000 units for FY23E looks ambitious as it is ~2x its present run-rate however with increasing penetration and adoption of electric vehicles domestically for both personal use as well as shared mobility, Tata Motors is well positioned to realise the same. This bodes well for the company and will further strengthen its market leadership, going forward.