Slight cannibalisation always happens but Tatas launching EVs in distinctly different segments: Shailesh Chandra

Shailesh Chandra, MD, Tata Motors PV, says “the EV growth rates were possibly 300%, moderating to 200% and then 100% as the high base effect kicks in at 40% will be a very good growth rate in the PV industry which might grow in the next financial year by sub 5% So if we are able to get a 40% growth rate for EVs, it will be a very strong growth on a very high base.”


You have launched Punch EV at a very competitive price. Are you expecting some cannibalisation of demand for the range of Tata Motors EVS ?
Shailesh Chandra: Slight cannibalisation cannot be avoided because consumers always compare choices but that is fine. Distinct categories of cars have very unique customers and I think that is how we are positioned in this. Punch EV sits at the sweet spot of with a price of less than Rs 13 lakh. It is very feature rich and an aspirational product. This will attract a completely new set of customers. I believe that slight cannibalisation always happens but I see these are very distinctly different segments attracting very distinct customers.


How do you see 2024 panning out and how many more EVs can we expect in this year for Tata Motors?
Shailesh Chandra: Yes, I think the statement I completely hold today also shows the industry growth of PV on a small base of few thousand has over the last three-four years grown to nearly hundred thousand and this is the number that the EV industry would end with in FY2024. So the growth rates were possibly 300%, moderating to 200% and then 100% as the high base effect kicks in at 40% will be a very good growth rate in the PV industry which might grow in the next financial year by sub 5% So if we are able to get a 40% growth rate for EVs, it will be a very strong growth on a very high base.

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