Tata Motors looks to local battery play as EV competition rises
Tata Motors, India's biggest electric car maker, is betting that locally manufactured EV batteries will help it maintain its edge in an industry where competition is intensifying with new launches, its group CFO said in an interview.
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Tata's EV market lead shrunk to 62% in 2024 from 73% a year ago as rival JSW MG Motor gained share with its new cars. This year, Mahindra & Mahindra, Hyundai Motor and market leader Maruti Suzuki will also launch EVs in India. Global EV giant Tesla has long eyed India too.
Tata Group's $1.5 billion initial investment to build a battery gigafactory in India and supply Tata Motors will allow it to further integrate its supply chain, P.B. Balaji, group CFO at Tata Motors, told Reuters.
«The work on the entire ecosystem is something that we have. We will be a dominant player in this market,» Balaji said on the sidelines of India's car show last week where EVs from domestic players as well as China's BYD and Vietnam's Vinfast took centre stage.
Tata, the owner of Britain's iconic Jaguar Land Rover, has EV models ranging from around $10,000 up to $27,000 and draws on other group companies that supply components and set up chargers to keep its investment and costs low.
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