JAKARTA - India's Tata Motors, plans to launch electric vehicles (EVs), including SUVs, using a new design that allows for larger batteries and a range of up to 500 kilometers.
The Prime Minister of India, Narendra Modi, has made EVs a major focus for the Indian government. They offer companies billions of dollars in incentives to produce them locally.
Over the past few years, EVs have only made up 1% of total car sales in India. This is due to high battery prices and inadequate charging network, thereby holding back buyer interest and the launch of new electric models.
Tata Motors, India's top-selling electric carmaker, said vehicles launched with the new Curvv design will be based on a new architecture adapted for the electric model.
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Cars built on this platform are expected to be launched in two years. "Tata is working to accelerate its development," said Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.
Tata Motors, which holds more than 90% share of India's electric car market, now sold 19,000 units in the fiscal year ended March 31. This number is up from 4,200 units in the previous year.
Last year, Tata Motors raised $1 billion from private equity fund TPG for its EV unit, and said it would invest a total of $2 billion to drive clean car sales.
The automaker told Reuters last month it faced short-term pressure after a 20% increase in the cost of battery cells due to a spike in the prices of raw materials, particularly lithium.
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