Shares of Tata Motors Passenger Vehicles (TMPV) are likely to be in focus on Wednesday, December 24, after the company outlined an ambitious electric vehicle (EV) expansion plan aimed at strengthening its market leadership and product portfolio in India’s fast-growing EV segment.
TMPV announced that it will launch five new electric vehicle models by FY30, including the much-anticipated premium Avinya range, as part of its long-term strategy.
The company has committed a capital expenditure of ₹16,000–18,000 crore between FY25 and FY30 to support this expansion. The investment will be directed toward new EV product launches, expanding the existing lineup, and building a robust charging infrastructure network with over 10 lakh charging points across the country.
This push aims to drive further mainstream adoption of electric mobility across consumer segments.
TMPV, which currently holds a dominant 66 per cent share in India’s electric passenger vehicle market, plans to roll out new models such as the Sierra.ev and Punch.ev in the near term, with the Avinya range expected to hit the market by the end of 2026.
The new models will be supplemented with multiple updates and refreshes for existing EVs including Tiago.ev, Punch.ev, Nexon.ev, Curvv.ev, and Harrier.ev. TMPV also offers the XPRES-T EV catering to the fleet segment.
TMPV Managing Director and CEO Shailesh Chandra said the company remains committed to strengthening the EV ecosystem through investments in India-first technology, localization, and accessibility across segments. He added that the strategic roadmap is aimed at achieving a steady-state market share of 45–50 er cent in the EV segment, building on TMPV’s current leadership.
The company emphasized its focus on strengthening the broader EV ecosystem by enhancing charging infrastructure and other enabling factors to drive mass adoption. The announcement is expected to draw investor attention, with TMPV shares poised to react to this long-term vision and investment strategy.
