Tata Motors chairman N Chandrasekaran has said that the company aims to sell approximately 50,000 electric vehicles by the end of the current fiscal year next March, with plans to double that figure over the following year.
Tata sold more than 19,000 EVs in 2021/22, an increase of 353% from the previous year. And Chandrasekaran told a shareholders meeting that the company expects to continue that trajectory.
Chandrasekaran also reassured shareholders that the company had plans in place to mitigate supply chain issues currently being experienced by firms across the planet, noting that the performance was expected to improve.
“We continue to work closely with our customers and ecosystem partners to mitigate risks and manage uncertainties. Accordingly, we expect performance to progressively improve through the year with the second half of FY23 being notably better than the first half,” he said.
Indian Prime Minister Narendra Modi has been pushing for increased production of EVs to help fulfil campaign pledges to combat climate change and reduce pollution in major cities. At present electric vehicles make up around 1% of total passenger car sales in India, a figure Modi hopes to increase to 30% by 2030.
At last year’s COP26 summit, Modi pledged to reduce total projected carbon emissions by one billion tons by 2030.