Tata Curvv EV concept unveiled | Tata's new EV SUV |
A Closer Look at Tata Uni’EV’erse
The company has launched a comprehensive Tata EV ecosystem in FY20- called Tata UniEVerse. This will provide a unique collaboration platform (‘One Tata’) for all the Tata companies. Tata is probably the only vertically integrated Indian player in the space.
Between July and September, their sales grew by 50 per cent, led largely by a 193 per cent growth in the company’s electric vehicle (EV) portfolio. These comprised the popular Nexon EV and Tata Tigor EV. During that time, Tata Motors sold 2,700 units of its EVs, compared to around 900 units the previous year.
Recently, Tata received a huge boost when US private equity firm TPG’s Rise Climate Fund and Abu Dhabi holding company ADQ announced that they would inject $1 billion into Tata Motors’ passenger EV business.
They will acquire somewhere between 11 per cent and 15 per cent stake in Tata’s EV business respectively. The EV business will be spun out into a new unit that is valued at $9.1bn.
The Tatas have come up with this strategy to align all its business verticals to create the Tata EV ecosystem. It will be interesting to see what new plans the conglomerate will have in the upcoming years to become the market leader in the EV sector.
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