Tata Motors Foresees Price Stability For Its EV Products

Tata Motors Foresees Price Stability For Its EV Products

Electric Vehicle manufacturer Tata Motors now expects the prices of its Electric Vehicles (EV) products to move towards stability. This comes at a time when the firm sees steadiness in the prices of cells, used in these EVS. The top management of the firm, in the latest investors call told its investors about this ‘price stability’.

Shailesh Chandra, MD of Tata Motors Electric Mobility Limited told investors, “I would say for EVs and the simple reason for that has been a steep reduction in the prices of cells. And as a manufacturer and leading manufacturer in the country, we have tried to pass that on to the customers, so that we bring the price of electric vehicles closer to the automatic car prices in the ICE segment. So I don’t see that now there should be any significant price corrections going forward because now we have come to more stable level of cell prices. So therefore, now we should see the price stability as far as EVs are concerned.”

The company, which is set to see the launch of new EV products in different vehicle segment now expects a more favourable market in the second half of the year (H2).

I think the cost reduction actions in the company is being expedited, and we see that it is going to deliver better than what we have delivered in H1. So, that is going to be favorable for the profitability.At the same time some of the new model launchest that have happened makes our volume mix also richer. So, that should also help. So, broadly, I see that in the H2, also with volume growth and leverage benefit that we might get, the profitability should have a favorable impact,” Chandra said.

In the EV segment, the company recently launched its ‘Curvv’ model. It is now also hopeful of the launch of the EV version of Harrier. “We have already shared our launches for two years and all we have already launched Curvv, there will be hopefully Harrier EV which will also be launched in the EV segment and then we have a Sierra also which is going to come in the second half or late 2025. So these are the products which are going to come in FY 26 and of course, it will also include the MCE (Mid Cycle Enhancements), especially in the car segment,” Chandra said.

On the electric bus segment, the company has also delivered a new tranche of deliveries. Tata Motors said that it delivered 550 electric buses in the quarter gone. It said that till now it has delivered more than 3,300 electric buses in the country.

“We are now at the last leg of deployment of buses under the CESL tender that we had won and more than 2,000 buses have been deployed. We have also deployed 200 electric buses in Jammu and Srinagar, and running very well. On the PM E-Drive, we welcome it, it’s a good scheme. It does address the payment security mechanism that we have been talking about, but we await further details on some of the other points that we have raised in the pre-bid meetings and especially related to an asset-light model,” Girish Bagh, Executive Director of tata Motors said in the investors call.