An Indian car company could launch a $10,000 EV before several major EV companies enter the market in the country.
What happened: Tata Motors Limited ADR TTM showed off its new electric vehicle with a starting price of around $10,000.
The company’s new low-end electric vehicle model could help edge competition from the likes of Tesla Inc TSLA before You’ve ever met the country.
The name of the new car Tiago.ev and comes with a range of battery sizes, charging options and models that vary in price. The low-end model is priced at 8.49 lakh, which is about $10,000.
electr reported about the new vehicle, saying the 19kWh battery pack is among the smallest ever seen for an electric vehicle and on par with batteries in electric motorcycles and electric jet skis.
According to Tata Motors, the new vehicle will have a range of 250 km, or around 155 miles, on a single charge.
The higher-end 24-kWh battery has a range of 315 km, or 194 miles, according to the company.
Tata Motors is one of India’s largest automotive companies and is also a leader in electric vehicles, with around 45,000 vehicles on the country’s roads.
Delivery of the Tiago.ev is scheduled to begin in January 2023. Tata Motors has started taking reservations for the vehicle.
Related link: Tata Motors acquires Ford India’s Sanand plant for US$91 million
Why it matters: Laws in India make it nearly impossible to have a strong automotive presence without having a factory in the country.
A hefty import tax has kept Tesla from moving forward with plans to launch the vehicle in India. Current plans for the Indian market have been put on hold.
Tesla CEO Elon Musk said in 2020 that Tesla would enter the Indian market “next year” in relation to 2021. said Musk later The country’s government and costs led Tesla to focus on other regions for expansion.
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