In a strategic move, Tata Motors is contemplating taking its popular electric vehicles (EVs) to the international market, which presents a lucrative opportunity.
What Happened: Shailesh Chandra, the managing director of Tata Motors' EV and PV businesses, stated in an interview with NDTV Profit that the company has the capability to take its products global.
Tata Motors, however, offers world-class products all priced below $30,000.
See Also: RVNL Share Price Jumps 2% After Receiving ₹156 Cr OrderChandra’s comments come amidst a global pushback against Chinese EVs.
Price Action: Tata Motors’ share price was up 0.21% to trade at ₹953.85 on Thursday morning.
In a strategic move, Tata Motors is contemplating taking its popular electric vehicles (EVs) to the international market, which presents a lucrative opportunity.
What Happened: Shailesh Chandra, the managing director of Tata Motors' EV and PV businesses, stated in an interview with NDTV Profit that the company has the capability to take its products global. He noted that while there is significant growth potential in India, the global opportunity is even larger as most EVs in developed countries are priced above $30,000. Tata Motors, however, offers world-class products all priced below $30,000.
"Structurally, I feel that we have an opportunity [to go global], and we are actively looking into the opportunity," Chandra added in the interview.
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Chandra’s comments come amidst a global pushback against Chinese EVs. Recently, the European Union announced plans to increase tariffs on Chinese EVs, with levies reaching up to 48% on some vehicles. Similarly, the US revealed a plan to nearly quadruple tariffs on Chinese EVs, up to a final rate of 102.5%. Canada is also preparing to follow suit. This situation opens up key geographies for Tata Motors to explore, given that the company enjoys similar economies of scale as some of its Chinese rivals.
Tata Motors, India’s largest EV maker by volume, accounted for nearly 75% of the nearly one lakh electric cars sold last year, according to VAHAN data. The company’s EV unit, Tata Passenger Electric Mobility Pvt. Ltd., turned EBITDA positive in fiscal 2024, with a revenue of ₹9,300 crore.
Price Action: Tata Motors’ share price was up 0.21% to trade at ₹953.85 on Thursday morning.
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