Tata Motors Group is a leading global automobile manufacturer.

TTMT has taken the lead in this nascent market, with ~70% market-share. Some of the factors that are aiding higher EV penetration are government incentives, launch of relatively affordable models, rise in ICE vehicle prices, sharp rise in fuel costs, etc.

TTMT’s planned passenger car EV subsidiary (‘EVCo.’) will be asset-light and would house all dedicated EV talent and design capabilities. ‘EVCo.’ would invest USD2bn over the next five years in products, platforms, charging infrastructure, etc.