The company, which corners a little over 80 percent of India's electric mobility market and has scripted a success story in passenger vehicles, is looking to turn over a new leaf in its commercial vehicle division
For a few years now, Tata Motors has made a habit of reinventing itself. Its passenger cars have shed its reputation as a fleet taxi operator and instead turned to offering chic models featuring advanced safety features, helping the carmaker emerge as the country’s third largest carmaker. Then, even as it transitioned into a force to reckon with, the makers of the Jaguar Land Rower also embraced electric transformation rather early on, and now corner a little over 80 percent of India’s electric vehicle market.
Last year, the company turned its electric vehicle arm into India’s most valuable electric vehicle company with a valuation of $9.1 billion, until Mahindra too stepped into the game with a similar valuation for an EV arm. All that’s probably why, in a two-year period, between March 2020 and September 2022, the market capitalisation of Tata Motors grew six-fold from nearly Rs23,000 crore in March 2020 to over Rs151,000 crore in September this year.