Thursday, January 26, 2023

The EV best division of Tata Motors acquires Ford India’s Gujarat facility for Rs 726 crore.

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The EV best division of Tata Motors acquires Ford India’s Gujarat facility for Rs 726 crore. In India, battery-powered passenger vehicles are still a relative rarity. A couple of models are accessible for procurement. These include Mercedes-Benz, Audi, and Jaguar high-end luxury vehicles valued at over Rs 1 crore. On the opposite end of the spectrum are the Hyundai Kona Electric and the MG ZS EV, both of which are priced above Rs 20 lakh. Maruti Suzuki is developing a cheap electric vehicle for India, although it has not yet reached the market. Follow For More Updates at Rapiddnews.com

Tata Motors is the only carmaker that sells not one, but two inexpensive electric vehicles in the Rs 20 lakh price range. The Tata Nexon EV and the recently announced Tigor EV demonstrate that lithium-ion battery-powered vehicles may soon be accessible to the general public. Both of these models also feature a substantial amount of localization.

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Tata Motors will lease the Powertrain Manufacturing Plant’s land and buildings back to Ford India, which will continue to run the Powertrain Manufacturing Facility. Tata has pledged to hire eligible employees of Ford’s Powertrain Manufacturing Plant if Ford entirely ceases manufacturing.

Learn more about the new Tata Motors Launch automobile.

Tata Motors’ intentions for electric cars

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As previously stated, Tata’s new electric division would produce EVs with a greater range. Currently, the firm relies on converting its existing ICE (internal combustion engine) vehicles into EVs, as evidenced by the Nexon EV and Tigor EV. However, in the future, it plans to transition to “modular multi-energy” platforms.

By 2026, Tata expects to have 10 EVs in its lineup, which would account for 25 percent of its overall sales. It has already unveiled the Altroz EV and disclosed that an electric version of the Punch is in development.

Indian Auto Enterprise Development

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Shailesh Chandra is the CEO of Tata Motors Passenger Vehicles Limited. and Tata Passenger Electric Mobility Ltd., stated, “The agreement entered into today with FIPL is advantageous for all parties involved and helps Tata Motors improve its market position in the passenger vehicle segment. Exhibits high ambition. To maintain our leadership in the electric vehicle market niche. It will expedite the growth and development of the Indian automobile sector by taking a significant step toward creating a future-ready, self-sufficient India.

“Today’s announcement is a major milestone in Ford’s ongoing business reorganization in India, which is part of our Ford+ strategic transformation effort. The deal will include a number of qualified personnel from the automotive manufacturing industry “said Ford Motor Company’s transformation officer Steve Armstrong. In addition to the transfer of employment to the people, this achievement illustrates our best efforts to care for individuals affected by the reorganization.

Tata EV sales performance

Tata had surpassed its FY2021 EV sales total of 4,221 units by the midpoint of FY2022. Between April and September of 2021, 4,419 Tata EVs were sold, representing 70.57 percent of the total EVs sold during that time frame. At this time, the Nexon EV had sold 3,618 units and held a 58 percent market share, while the Tigor EV had sold 801 units and held a 13 percent market share, placing it in the third position on the EV sales list behind the MG ZS EV.

  • Tata’s electric vehicle division is known as Tata Passenger Electric Mobility.
  • Tata electric vehicles will transition from “conversion” to “multi-energy” platforms.
  • Tata Altroz EV and Punch EV are in development.

In October 2021 and November 2021, Tata Motors EVs sold 1,586 and 1,751 units, respectively, through three models – Nexon, Tigor, and the commercial version of the sedan (the X-Pres T EV) – bringing its eight-month (April-November) total to 7,756 units.

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