Tata Motors planning for yet another affordable EV
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Tata Motors is readying an EV in the mid-price segment of ₹8–11 lakh, expanding its place in India’s rising EV market. The company’s Punch.ev and Tiago.ev models are already among the leading EVs for passenger use.
| Brand | EV Models Under ₹11L | Key Models | Market Share in India (2025) | Strategy Angle |
|---|---|---|---|---|
| Tata Motors | 2 (Tiago.ev, Punch.ev) | Curvv.ev, Altroz (pending) | 76% (affordable EVs) | Focused affordability |
| MG Motor | 1 (Comet EV) | ZS EV | 7% | Youth-centric design |
| Mahindra | 0 | XUV400, Born EVs (premium range) | 5% | SUV dominance |
| Hyundai | 0 | Ioniq 5, Kona EV | 6% | Tech luxury |
| Maruti Suzuki | 1 (eVX concept) | Still under development | 3% | Late entry |
At the same time, plans for the Altroz EV which have been on the drawing board for a few years now, have been delayed. Tata Motors believes it needs to see greater stability in the market and identify its place in its existing EV portfolio before making a decision.
“We have two products in the ₹8–11 lakh range where the Altroz EV was supposed to be,” added Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility. “We will wait for the right time when there is a proper role for the Altroz in the portfolio and also for the EV category to stabilise.”
Cost of electric vehicles (EVs) affects their launch schedules
According to industry leaders, cheaper battery components and vehicle parts are moving the cost trends in the EV business. After drawing up its EV plans in 2020–21, Tata Motors needed to update them because the price drops in this segment were happening sooner than expected.
“Price erosion has taken place much faster than anticipated. Hence, we don’t want to rush in and create more confusion in the category,” Srivatsa said.
New ICE Altroz is now on the market
While there is still no word on Tata Motors’ plans for an electric Altroz, they did launch a newly improved gas-fueled version on Thursday, offering customers a choice of petrol, diesel and CNG options. Prices start for the base model at ₹6.89 lakh (ex-showroom).
The Altroz has been launched in the premium hatchback market where the Maruti Suzuki Baleno and Hyundai i20 are the well-known models. This segment produces over 30,000 units each month but Tata’s share in the market has dropped from 25% to 12% over those two years. The company intends to regain about 30% of the total market share with what the updates have to offer.
“The hatchback segment will stabilize at around 20% of the industry’s volume and within that, the premium hatchback segment will grow to close to 50%. Volume growth is not there, but the segment will stabilize,” he said.
Company’s strategy for EVs mainly concentrates on making them affordable
The company is still focusing on making EVs available to more middle-income people in India. Concentrating on fair prices and useful driving ranges has helped the company lead the EV market in the country by how many vehicles they sell.
Tata is also working with Tata Power to build more than 3,000 fast charging stations in a combination of urban and semi-urban areas.
Tata Motors has not revealed the exact date for its upcoming affordable EV or the Altroz EV, instead saying it will watch market trends before giving any more details.
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