By FY31, Tata’s portfolio will include 6 new ICE models, 4 new EVs and various facelifts and refreshes.
During the recent investor day meeting, Tata Motors revealed its plans for the next five years. Apart from new product launches, the company will also focus on increasing market share and production capacity. A significant percentage of the company’s growth by FY31 will be driven by its current and upcoming EV and CNG cars.
Tata FY31 EV plans
Tata currently leads the EV segment in India with around 40% market share. Its current portfolio includes Tiago EV, Punch EV, Nexon EV, Curve EV and Harrier EV. By FY31, Tata will introduce 4 new EV models. Two of these are already known, the Sierra EV and the Avinya electric SUV. The Sierra EV is planned to launch on June 30, while the Aviant electric SUV may launch later this year.
There will be two more Tata EV models by FY31. However, official details about these are not available. An alternative could be the Safari EV, which has been spotted on road tests. Tata may introduce the 7-seater Safari EV around the upcoming festive season. It will compete mainly with Mahindra XEV 9S. Tata’s fourth new EV model could be an electric MPV.
This would be a nice addition, considering there is no electric MPV in Tata’s portfolio currently. Assuming it is launched, Tata’s first electric MPV will take on rivals like the Kia Carens Clavis EV. However, there has been no official confirmation regarding these possibilities. By FY31, Tata’s EV portfolio will grow to 10 models. During this period, Tata will also introduce more than ten facelifts and refreshes for its EV portfolio.
Tata FY31 ICE Plans
Tata currently has nine models in the ICE segment. There are plans to expand the ICE portfolio to 15 models by FY31. During this period, Tata will introduce 6 new models and more than 20 facelifts and refreshes. The new models will capture existing segments, as well as create new segments in the Indian passenger vehicle sector.
Tata will target both high-growth segments and white spaces. The focus will be on multi-powertrain strategy to expand the customer base. By FY31, it plans to target more than 80% of the PV market in the country. Across each segment in which it operates, Tata is targeting 25%+ market share by FY 2031.
Production Plans (FY31)
With the ever-increasing demand for its cars, Tata will be increasing production significantly. There are plans to expand the existing annual capacity of about 900,000 units to 1.3 million units in the next 2-3 years. Tata has plants in places like Pune, Sanand, Ranjangaon and Panapakkam.
Production capacity will be increased by adopting a multi-pronged approach. There will be new facilities as well as structural expansion of major stores at existing facilities. Tata will focus on building flexible and transformative manufacturing facilities across its plants. Supplier capabilities will also be enhanced as Tata aims to achieve higher volume sales over the next five years.
EV and CNG models will play an important role in supporting Tata’s volume growth till FY 2031. EV penetration target is 30%+. In the CNG sector, Tata plans to capture 25%+ market share. The company is a leader in the EV sector and has the second largest portfolio of CNG cars after Maruti Suzuki.