Tata: The trend of electric vehicles (EV) in India has crossed its ‘early adopters’ stage. In such a situation, Tata Motors Passenger Vehicles (TMPV) is preparing to launch 4 new electric cars and more than 10 advanced variant models by the financial year 2030-31 to maintain its top position in the EV segment. ‘Early adopters’ are customers who choose a new idea or technology to gain a competitive edge. Tata Motors told investors that it is preparing for the next stage of growth in its electric vehicle segment and is eyeing an EV reach of more than 30 percent by 2030-31.
India’s EV market has shifted from early adopters to early majority.
“Right now, EVs are being considered by the ‘early majority’,” TMPV said. We will improve our products to promote EVs among the early and late majority customers.” Early majority’ customers are those who need to see successful ‘case studies’ before buying, while ‘late majority’ customers accept the new idea or technology only after the common man has adopted it. The company says that India’s EV market has shifted from early adopters to early majority.
Number of innovators in EV market 2.5 percent
According to Tata Motors, the share of early adopters in the EV market is 13.5 percent, while the share of early majority and late majority is 34-34 percent. Whereas the number of laggards is 16 percent and the number of innovators is 2.5 percent. Innovators are risk takers who like to try new things first, while laggards are traditionalists who resist change and are the last to accept it.
Tata will have a portfolio of 10 electric vehicles by 2030-31
“By 2030-31, we will have a portfolio of 10 electric vehicles,” the company said in a presentation. We will continuously introduce new vehicles for the next stage of growth to completely strengthen our portfolio.” The company’s current EV portfolio includes Express-T, Curve, Harrier, Nexon, Punch and Tiago. The company plans to add 4 new electric vehicles by 2030-31 and launch more than 10 advanced variant models.
The name of Tata’s electric Sierra is also included in the new model.
Tata’s upcoming new electric vehicles include Sierra, which is a product based on its Avinya concept. Apart from this there are two other models. Tata Motors Passenger Vehicles said it is also working to increase the range of its EV series by two to three times and fast charging speed by three times. Besides, the energy density of the battery is being increased by 20-23 percent.
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