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Stock advisory Company Today News Update, 2030 EV mission a big challenge, says Tata Motors MD Guenter Butschek

Tata Motors had last September won a mega government contract for supplying 10,000 electric vehicles to state-owned Energy Efficiency Services Ltd (EESL)

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A day after announcing turnaround numbers for the domestic business of Tata Motors, chief executive and managing director Guenter Butschek on Tuesday showcased the company’s role in driving India’s future mobility while arguing that it would be big challenge to meet the government’s vision of 100 per cent electrification of public transport and 40 per cent personal vehicles by 2030.

Tata Motors had last September won a mega government contract for supplying 10,000 electric vehicles to state-owned Energy Efficiency Services Ltd (EESL) at a price of around Rs 1.12 million per unit under the NDA government’s 2030 EV plan. Butschek said on Tuesday that the delivery schedule was on track.

On meeting the 2030 deadline, Butschek said there should be a ‘’single-minded focus’’. The goal will not be met ‘’if we get distracted.’’ The government must move in the direction of incentivizing for full electric vehicles to make it attractive for companies to commit investment and create economies of scale, according to the Tata Motors MD.

‘’If by 2025, around 20 to 25 per cent new registrations are EVs, we would have done a splendid job,’’ Butschek replied when asked to project a realistic figure for the India market. His caveat was, ‘’it is just the beginning of the movement.