Indian auto major, Tata Motors is planning to launch four new EV models in the country in the coming 12 to 18 months. N Chandrasekaran, Chairman, Tata Motors revealed the company’s plans at the 74th Annual General Meeting.
The new vehicles which will be launched include the Altroz EV, Nexon EV, a refreshed model of Tigor EV with a greater range as also an undisclosed model. Tata Motors already sells the Tigor EV in the Indian market, although it is only available for fleet owners and commercial use. Sales for the Tigor EV have not yet opened for private buyers.
The Tigor EV is powered by a 72 V 3-Phase AC induction motor with power figures of 30 hp and 105 Nm of peak torque. It packs a single speed, automatic transmission and a 16.2 kWh battery offering a range of up to 142 km. The Tigor EV has a starting price of INR1 million ($14,000).
The Altroz EV was showcased at the 89th Geneva International Motor Show. This model is slated to receive a permanent magnet AC motor with single-speed gearbox. Tata Motors is aiming to achieve a 250-300 km range for Altroz EV.
The Indian Government recently announced GST (General Sales Tax) reductions on EVs from 12% to 5%. Also the GST on EV chargers and EV charging stations have been reduced from 18% to 5%. Additionally EV buyers would receive a direct tax incentive of INR150,000 ($2100) on the interest charged for loans taken to buy the EV.
Tata is eyeing to become a major player in the yet untapped market. Other competitors like Mahindra and Maruti Suzuki are also prepping their EVs for launch next year. Hyundai is also planning a sub INR1 million ($14,000) EV for the Indian market. The South Korean automaker is receiving favourable demand for the the Kona Electric that recently debuted in the country.