NEW DELHI: Electric car sales will continue to grow, with their penetration in total passenger vehicle (PV) sales likely to surpass 8% in FY27 and reach 10% in FY2028, said Tata Motors Passenger Vehicle (TMPV) Managing Director Shailesh Chandra on Tuesday. For TMPV, which dominated the electric car market with 40% share, Chandra said that their target to have 30% sales coming from EVs by FY31 remains intact.
“From 2.5% in FY25, 4.5% in FY26 and now to 7-7.5% in Q1 of FY27, the segment has evolved from early adopters to mainstream buyers,” said Chandra while attributing the rise in EV sales to new models launches by OEMs, overcoming the the barriers that existed in different sub segment, and finally the Middle East crisis which acted as a force multiplier to an already growing EV industry.
Chandra stated that EV bookings for them have grown 3X what they were a year ago, and the company continue to ramp up production to meet the growing demand. TMPV had recently unveiled a phased plan to raise its annual manufacturing capacity to 13 lakh units from around 9 lakh units. The home-grown automaker also outlined an ambitious growth roadmap, including planned capital expenditure of up to Rs 40,000 crore over the next five years, as it targets a 20% share in India’s domestic passenger vehicle market by FY31.
On the overall PV market, Chandra said that he remains confident that the industry will grow by about 10% in FY27 against the broader consensus of 5-6%. PV sales in India hit an all-time high in FY26, with wholesalers dispatching 4.64 million units, as per SIAM data.
TATA.ev, the EV arm of TMPV, on Tuesday launched the all-new Sierra.ev at an introductory starting price of Rs 18.79 Lakh. The electric Sierra, competing against the likes of Maruti Suzuki e Vitara and Mahindra BE 6, is expected to push TMPV’s EV volume, which stood more than 10,000 units in May and is likely to have risen by 30-40% in June.
“The mid-SUV segment sits at the heart of India’s SUV market, shaped by a new generation of customers who see their vehicle as a reflection of their lifestyle, ambitions and identity. As Vs move firmly into the mainstream, desirability will be the defining catalyst for adoption,” said Chandra.
The Sierra EV is available with two battery pack options - 75kWh and 63kWh - and the claimed range for these versions stands at 665km and 565km (MIDC cycle), respectively. Tata claims that the model can sprint from 0-100kmph in 5.8 seconds, making it the fastest made-in-India EV. Further, Tata says the Sierra EV can add up to 263km of range in just 15 minutes, while charging the battery from 20 to 80 per cent takes approximately 26 minutes.