India’s Tata plans to launch a new electric car within 2 years, with a range of up to 500 kilometers

India’s Tata Motors announced on Wednesday local time that it plans to launch a newly designed electric vehicle within two years. The new car will be equipped with a larger battery with a range of up to 500 kilometers.

▲ Tata Tigor EV, with a battery life of 306 kilometers

India’s prime minister has made electric vehicles one of the government’s priorities, promising billions of dollars in incentives for companies to produce electric vehicles locally.

However, buyer purchases and the introduction of new EV models have been hampered by high battery prices and inadequate charging network facilities, which account for only 1% of total vehicle sales in India.

Tata Motors said its new car will feature a curved concept design and will be developed based on a new architecture suitable for electric models.

Vehicles built on the platform are expected to be launched within two years and the company is working to speed up development, said Shailesh Chandra, head of Tata Motors Passenger Cars and Electric Mobility for Tata Passenger Cars.

Chandra also said that the SUV will have room for a larger battery, which is expected to have a range of 400 to 500 kilometers, as well as faster and more efficient charging.

Tata Motors, the maker of India’s best-selling EVs, has more than 90 percent of the country’s EV market, selling a total of 19,000 EVs in the fiscal year ended March 31, up from 4,200 in the previous year. vehicle.

In 2021, Tata Motors raised $1 billion in funding for its electric vehicle unit from private equity fund TPG and said it would invest a total of $2 billion to boost sales of electric vehicles.

Last month, the automaker said it was under short-term pressure as soaring prices for raw materials, mostly lithium, prompted a 20% rise in battery costs.