Giants like Tata Motors, Mahindra and Mahindra (M&M), Maruti Suzuki India Ltd (MSIL), Hyundai Motor India Ltd (HMIL), JSW MG Motor India, Nissan Motor Corporation, and Renault SA have indicated big-ticket investment for creating capacities, product development, and a commitment to cleaner environment-friendly technologies.
Last week Tata Motors, the country's market leader in electric vehicles (EVs), said it was planning to spend ₹16,000-18,000 crore as capital expenditure on its EV arm till FY30. The firm, which sells four electric car models, aims to launch six more by March 2026. The investment announcement comes when it is targeting a 20 per cent share in the PV market by FY30 and expects EVs to contribute 30 per cent of its portfolio by then.
India is the third-largest PV market where sport utility vehicles (SUVs) constitute nearly half of it. Moreover, 2021 per cent of this market, which is estimated to touch six million by FY30 (from 4.3 million in FY24), is expected to comprise EVs.
Tata Motors has said its product portfolio represents 53 per cent of the industry volumes. It aims to increase this to 80 per cent with new nameplates and will try to deliver over a 25 per cent market share across its addressable market. The last three years have seen the highest ever sales for Tata Motors.
As this battle for market share takes centre stage, most players are trying to create capacity.
Denne historien er fra June 17, 2024-utgaven av Business Standard.
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Denne historien er fra June 17, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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India on top of luxury firms' 'watch' list
Country's appetite for premium watches grows as China sees a downturn
Brand Maggi stronger than ever as Nestlé India gears up for new leader
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BURNING ISSUE
Minimum support price has been a bone of contention between the farmers in Punjab and the state and Centre
Missing funds went to legitimate purpose, says Byju's founder
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97% rail electrification done
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Fortified rice supply, border roads get ₹21K cr Cabinet push
2,280 km roads to be built in Rajasthan, Punjab border areas
More upside in Zomato's stock, but competition also rising
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No irregularities found in Sebi probe: Zee panel
The Independent Investigation Committee (IIC), set up by the board of Zee Entertainment Enterprises Limited, said that \"no material irregularities\" were found against the company during the investigation by the securities regulator, it said in a release on Wednesday.
India set to join FTSE Russell bond index next year
South Korean bonds to be added to FTSE World Government Bond Index
Mkts erase gains amid sustained FPI selling
India's benchmark indices made positive strides for the second consecutive session on Wednesday, but sustained selling by overseas investors saw them erase their gains.
