'Foreign EV cos must create jobs,' says Tata Motors
New Delhi: Tata Motors, the country's biggest EV carmaker, on Tuesday said multinational companies looking at India's electric market, including those from China, need to ensure that they not only harness business opportunities in the country but also invest in building capabilities, creating jobs, and building localisation.
Asked whether the Indian car industry is ready to take on Chinese players, who so far have faced challenges in freely investing in the country, Tata Motors passenger vehicles MD & CEO Shailesh Chandra said the govt is taking decisions in the best interests of the country.
"That is something which the govt has to really think about, and it will take into consideration many aspects. They will look at inviting technologies and (new) players, but at the same time, ensure that there's full commitment to building capabilities, investing into local value addition. With that kind of commitment, the govt will take a conscious call."
He said that it is important that companies not just gain in volumes from the Indian market, but also commit locally. "... you have to ensure that it is not only demand in the country which is leveraged and acted upon by any player, but... anybody who wants to exploit that demand (needs) to invest into localisation, invest into employment creation, and so on. So, I think, govt takes into consideration all these aspects holistically and then takes a call on what is right for the nation."
Chandra also said that Tata Motors will roll out five new electric vehicle models, including the premium product range Avinya, and invest up to Rs 18,000 crore by 2029-30, as it looks to retain a dominant market share of 45-50% in the expanding electric vehicle segment.
"As EV adoption accelerates, our commitment remains clear: To mainstream electric mobility by making it accessible across segments, strengthening the ecosystem, and investing in India-first technology and localisation. This is how we will continue to lead India's growing EV market."
Chandra said the company will introduce Sierra.ev and a new version of Punch.ev next year. "By 2026-end, we will launch premium range of EVs - Avinya. By FY30, we'll bring five new EV nameplates, including Sierra and Avinya, along with multiple updates and refreshes for existing models."
Asked whether the Indian car industry is ready to take on Chinese players, who so far have faced challenges in freely investing in the country, Tata Motors passenger vehicles MD & CEO Shailesh Chandra said the govt is taking decisions in the best interests of the country.
"That is something which the govt has to really think about, and it will take into consideration many aspects. They will look at inviting technologies and (new) players, but at the same time, ensure that there's full commitment to building capabilities, investing into local value addition. With that kind of commitment, the govt will take a conscious call."
He said that it is important that companies not just gain in volumes from the Indian market, but also commit locally. "... you have to ensure that it is not only demand in the country which is leveraged and acted upon by any player, but... anybody who wants to exploit that demand (needs) to invest into localisation, invest into employment creation, and so on. So, I think, govt takes into consideration all these aspects holistically and then takes a call on what is right for the nation."
Chandra also said that Tata Motors will roll out five new electric vehicle models, including the premium product range Avinya, and invest up to Rs 18,000 crore by 2029-30, as it looks to retain a dominant market share of 45-50% in the expanding electric vehicle segment.
"As EV adoption accelerates, our commitment remains clear: To mainstream electric mobility by making it accessible across segments, strengthening the ecosystem, and investing in India-first technology and localisation. This is how we will continue to lead India's growing EV market."
Chandra said the company will introduce Sierra.ev and a new version of Punch.ev next year. "By 2026-end, we will launch premium range of EVs - Avinya. By FY30, we'll bring five new EV nameplates, including Sierra and Avinya, along with multiple updates and refreshes for existing models."
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