In the latest news, Tata Motors has raised a heavy investment to put in a new electric vehicle subsidiary. The homegrown automaker has entered an agreement with an investment firm called TPG Rise Climate. They have agreed to invest INR 7,500 Crore from an 11% to 15% stake. The overall deal timing would be around five years, and Tata Motors plans to launch ten new electric cars in the Indian market.
All of us already know how Tata Motors has grown as an auto brand in India. With their new plan of action towards building an EV ecosystem in India, we can say that this Indian automaker will capture the market soon as far as the EV arena is considered. Tata Motors electric cars are not the only thing that we will be getting from this raiser. The brand is also looking to invest in new technologies and platforms, which they will be using further to enhance the quality of vehicles and the upcoming EVs.
The new brand is temporarily being called EVA. They will design and own the future electric vehicle IPs. Tata Motors will develop the sales network and handle it exclusively. Tata Motors electric vehicles plan to be based on multi-energy platforms. Sailesh Chandra, president, Passenger Vehicle Business at Tata Motors, in an interview with AutoCar India, said, “We have a phased plan to move from generation one to subsequent generations of EVs, and in that journey, some of our modern architectures will be adapted to make them more electric ready, specifically to accommodate more battery packs.”
Tata Motors electric vehicles include the latest Tigor EV with the Ziptron technology, and we can expect the arrival of the Altroz EV soon in the market too. Apart from this, the Indian automaker plans to have 10 EVs by FY26. Also, they are planning to launch the CNG versions of the already successful Tiago and Tigor soon in the Indian market. Coming back to electric, Tata also plans to launch the electric version of the Punch by 2023, which will underpin the same platform as the Altroz EV.