Tata Motors, with a market capitalization of ₹3.76 lakh crore, has emerged as a leader in the electric vehicle segment in India. The company is urging the government of New Delhi to extend incentives for electric taxis for another three years and include personal cars in the FAME program, taking inspiration from global leader China’s approach to EV adoption.
Shailesh Chandra, the managing director of Tata Passenger Electric Mobility and Tata Motors Passenger Vehicles, emphasized the need for continued support for EV adoption, citing examples from countries like China and Germany. He highlighted the recommendation by the Parliamentary Standing Committee on Industry to extend the FAME program by at least three years to make it more inclusive.
FAME 2, the current phase of government support for Electric vehicles, is set to end on March 31. Tata Motors is pushing for incentives for electric taxis and personal vehicles to accelerate the adoption of green powertrains. The company believes that supporting shared mobility with EVs is crucial for reducing urban air pollution and achieving broader climate goals.
Tata Motors currently dominates the domestic EV market with a share of over 70%. The company plans to expand its electric vehicle portfolio in the coming years, with the goal of Electric vehicles accounting for 25% of sales by 2027 and 50% by the end of the decade.