"major change"! tata motors will purchase from chinese companies
2024-08-29
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
indian media: india's tata motors will purchase battery packs from chinese companies to solve performance problems and expand procurement sources
several indian media outlets quoted live mint on the 28th as saying that india's tata motors ltd. is working with chinese battery pack manufacturers to solve performance problems and expand its electric vehicle battery pack procurement sources.india's business standard newspaper said the strategic move marks a major shift in the company's battery procurement.
tata motors currently has a market share of over 60% in india's electric vehicle market. according to live mint, tata motors has previously relied on its subsidiaries to supply battery packs. tata motors' cooperation with the chinese company is said to be to solve performance problems such as battery charging degradation that occurred in its early electric vehicle models. the company hopes to improve the reliability of its electric vehicles by introducing new battery pack designs and different types of battery cells. in addition, this will enable the company to expand its supply chain and enhance its technical capabilities when launching new electric vehicle models. a tata motors spokesperson told indian media that the company is adopting a diversified procurement strategy to reduce its dependence on a single supplier and ensure a reliable and timely supply of parts. this strategy is crucial to cope with the rapid growth of the electric vehicle industry.
tata motors has become the first indian automaker to rank among the top 10 global automakers by market value, thanks to a sharp rise in its share price. as of july 31, the company's market value reached $51 billion, making it india's most valuable automaker. the company's share price has risen by more than 50% this year and more than 101% last year.
despite this, tata motors still faces the dual challenges of declining sales and intensified competition. according to the economic times of india, tata motors is working to narrow the price gap between electric vehicles and traditional fuel vehicles to improve the market competitiveness and attractiveness of electric vehicles. public reports show that india's electric vehicle market is growing, but the scale is still small. in 2023, electric vehicles accounted for about 2% of india's total car sales, and the government's goal is to reach 30% by 2030. to promote the development of electric vehicles, india provides financial subsidies and tax incentives to reduce the purchase cost of electric vehicles and encourage consumers to switch to clean energy vehicles. indian automakers, including tata motors, are also actively responding to the government's call to launch new electric vehicle models to meet market demand.
global times reporter li meng
