Tata Motors EV Sales up by 439%

TATA MOTORS EV – Sales up 439% at 2255 Vehicles vs 418 Vehicles in December 2020. Q3 EV sales up 342% at 5592 Vehicles vs 1256 Vehicles and EV penetration touched 5.6% of PV Sales in Q3 vs 1.8% yoy.

Tata Motors has an upper hand with two popular affordable electric vehicles in its product line up in India, namely the Nexon EV and the Tigor EV. 

Shailesh Chandra, President, PVBU -Tata Motors said, “EV penetration touched 5.6 per cent of PV Sales during the quarter versus 1.8 per cent in the same period last financial year. EV sales also touched 10,000 units in 9MFY22 and crossed the 2,000 monthly sales landmark for the first time in December 2021. The ever-increasing demand for Nexon EV and Tigor EV, as well as the progressive revival of the EV fleet segment, were instrumental in driving this steep growth.”

The stock is currently trading around Rs.488.  It reacted negatively after CLSA report. The stock is down 1.8%

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Tata Motors down 1.2%