Altroz electric to further boost TaMo’s position in EV space

Riding on the success of Nexon EV, Tata Motors will soon launch the electric variant of its premium small car, Altroz, in December this year. The move is expected to further enhance the company’s positioning in the EV space, where it already enjoys a market share of over 65 percent (Year-To-Date in FY21), owing to the consistent demand for Nexon EV SUV.  Replying to an email query by TURN OF SPEED, Tata Motors said, “We have the largest portfolio of EVs which includes Tigor EV and Nexon EV. In addition, we have already announced that our next product will be the Altroz EV. Going forward, we would like to drive penetration of 5-10% of the products that we launch, within the segments that we are present. For example, we sell around 6000 Nexon ICEs per month and around 300 Nexon EVs per month which is equal to 5% penetration.”  With the increasing demand for EVs, Tata Motors is actively working on building infrastructure to address concerns relating to charging of the vehicles. According to the company’s spokesperson, Tata Motors is looking to install 700 charging stations by FY21, for which it has partnered with Tata Power. Collectively, the two companies are working