Tata Motors calls for 3-year extension on EV incentives

Date: March 12, 2024.Tata Motors, an automotive manufacturer in India, has urged the government to extend the current incentives for electric vehicles (EVs) by three years. This request aims to accelerate the adoption of EVs in the country and the shift towards electric mobility.

Shailesh Chandra, the managing director of Tata Passenger Electric Mobility and Tata Motors Passenger Vehicles, highlighted the importance of such incentives by referencing the EV subsidies in countries like China and Germany. He emphasized the need for an environment conducive to EV adoption, similar to that in Beijing, which supports EV adoption until EVs constitute at least 20% of all new car sales.

In addition to including personal vehicles in future incentive schemes, the company has suggested that the government continue to assist electric taxis by offering an incentive of ₹10,000 per kWh battery size for the next three years. Moreover, taking into account the significant amount of money that remained after the first allocation under FAME II for taxis, the goal is to facilitate the wider adoption of EVs. Chandra also said that the goals of shared four-wheeler mobility may be supported by these money.

Tata Motors has a significant presence in the local market for electric vehicles, holding a market share of over 70%. The company offers four EV models in the personal car segment: the hatchback Tiago, sedan Tigor, and SUVs Punch and Nexon. Moreover, this request coincides with the conclusion of the second phase of the Faster Adoption & Manufacturing of Electric Vehicles program (FAME 2) on March 31.

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