Tata works along Gujarat’s target of 100% electric vehicle adoption by 2030
Tata Group has signed an outline deal to build a Rs.13,000 crore lithium-ion cell facility as part of India’s efforts to create its own electric vehicle supply chain.
Tata’s unit Agratas Energy Storage Solutions and the Government of Gujarat have signed a memorandum of understanding to set up the facility at Sanand, northern Gujarat.
It would have initial manufacturing capacity of 20 Gigawatt hours (GWh), which could be doubled in a second phase of expansion, the statement said on 2 Jun 2023.
Moreover, the establishment of this gigafactory aligns with the state’s ambitious goals of achieving 50% carbon emission-free energy and 100% electric vehicle adoption by 2030.
Tata Motors electric vehicle (EV) sales was 1% of the country’s total car sales of about 3.8 million last year.
Compared to the size of its 1.4 billion population, India’s car market is set for one of the fastest growths among developing economies.
Industry observers said the consumer-driven Indian market is set for 6-8% GDP growth as well as growing love for cars among Indians with increasing disposable income. fiinews.com
