The president of Tata Motors n Chandrasekaran told the shareholders that the company is accelerating its strategy of electric vehicles (EV), even if it closely monitors the supply chain and geopolitical risks that could affect growth.Speaking at the 80th annual general meeting (AGM) of the company, Chandrasekaran said: “We expect to reach 30% EV penetration long before 2030. We already have a strong wallet – with Nexon EV, Punch EV, Tiago and Tigor – and we have many other models in conduct”. Evs represented 15% of the volumes of the Passe Motors passenger vehicle in Fy25.
While Tata Motors still drives the EV market with a share of over 50%, this has fallen from over 85% two years ago, since rivals such as Mahindra, Hyundai and Mg increase their offers. “Yes, the competition has increased, but we remain fully busy and we have a strong track,” said Chandrasekaran. The company plans to introduce a series of new models in space to protect its turf in a segment where it was a first engine.
He also dealt with concerns about the supply of rare lands magnets used in electric vehicles between global commercial tensions. “We are not facing any problems. We are able to get the magnets we need and have the right level of inventory. We are also working with the government on alternative resources. This is something we are looking very carefully.”
On the proposed increase in the US rates on vehicles manufactured in the United Kingdom, they would have had an impact on Jlr-Chandrasekaran said: “If the rates had passed to 27.5%, the impact would have been £ 1.6 billion. With the commercial agreement of the United Kingdom, which drops to 10%and 10%and 10%, and the jlr mitigation phases will reduce JLR mitigation. the impact at about £ 600 million. “
He confirmed Tata Motors’ participation in the Government Bus Bus Programs through his dedicated mobility activity and has said that the company is also testing 12 buses and hydrogen trucks. However, he warned: “The production cost and hydrogen operations is still very high. This will not reduce short -term”.
Chandrasekaran reiterated that the smartger of passenger vehicle companies and commercial vehicles remains on the right way.
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