Tata Motors to expand portfolio from 9 to 15 models by FY2031

Tata Motors plans to expand its passenger vehicle portfolio from nine models currently to 15 by FY2031 as part of a broader product-led growth strategy. Speaking at its Investor Day presentation, the company said it has lined up more than 20 product interventions, including six all-new nameplates, over the next five years as it targets an 18-20 percent share of the passenger vehicle market.

1. Annual PV sales target of over 1.2 million units
2. EV portfolio to expand from six models to 10
3. Manufacturing capacity to rise to 1.3 million units

Six new models planned

Upcoming Sierra.ev

Tata Motors said the expansion will be supported by six new nameplates, along with facelifts, powertrain updates, feature additions and new derivatives across its existing range. The company said the larger portfolio will help it expand into more segments and offer buyers a wider choice of body styles and powertrains.

Among the upcoming launches are the Sierra.ev, which is scheduled to debut on June 30, and the Safari.ev, expected to launch by the festive season this year. The company is also preparing to introduce the Avinya EV range, which is expected to arrive within the next year.

EVs and CNG to play a larger role

Tata Motors' twin cylinder CNG setup.

Tata Motors is targeting a 30 percent EV mix within its passenger vehicle portfolio by FY2031. Based on its overall volume ambitions, that translates to annual EV sales of around 350,000-400,000 units, representing a three-to-four-fold increase over current levels.

The company plans to expand its EV portfolio from six models to 10 and expects electric vehicles to account for 15-20 percent of the overall passenger vehicle market by FY2031.

Tata Motors also expects EVs and CNG vehicles together to account for around 45 percent of India's passenger vehicle market by FY2031, reflecting growing demand for alternative powertrains.

Targets 1.2 million annual sales by FY2031

Tata Motors is targeting annual passenger vehicle sales of more than 1.2 million units by FY2031, up from around 640,000 units currently. The company is also aiming for an 18-20 percent share of the passenger vehicle market by the end of the decade.

The company also plans to increase annual manufacturing capacity from around 900,000 units to 1.3 million units over the next two to three years to support future volume growth.