Tata Motors expects 20% of its total passenger vehicle (PV) sales in the domestic market to come from electric vehicles (EVs) in the next three years, a senior company official said on Thursday.
The company, which has electric models such as Nexon EV and Tigor EV, expects to touch 50,000 units mark in total EV sales this year.
It is also working on flex-fuels and expects its product portfolio to be E20 (20% ethanol) compliant by 2025.
"Right now, it (electric vehicles penetration) is between 8-8.5% and the models in which we have electric, it is roughly 25%," Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Managing Director Shailesh Chandra told reporters on the sidelines of the annual session of SIAM here.
He was responding to a query on the level of EV sales of Tata Motors.
"Last year, we ended at 5%. Before that, we were at 2% and the year before that it was 1%," he said.
This fiscal itself the company expects to reach the 10% mark.
On how does the company see the EV penetration level of its passenger vehicles portfolio in three years, he said, "I see it gravitating towards 20%." Mr. Chandra said the demand continues to be robust and the challenge is the supply chain issues, specially regarding battery requirements of EVs.
On semiconductor shortage, he said it was under control although not fully resolved.
Mr. Chandra also said the company is witnessing fresh demand for its vehicles and "pent up demand" is over.
Tata Motors currently has waiting period of four weeks to three months across its its various passenger vehicles portfolio.