Remember the Tata Nano? Of course, everyone does. It was one of the most ambitious cars that have been launched in India in recent memory. The Nano was a vision of Tata Sons Emeritus Mr Ratan Naval Tata who wanted his countrymen to be able to afford a four-wheeler in this day and age of growing inflation. However, the Nano because of being marketed as the cheapest car did not manage to attract many buyers and became a marketing disaster and later was scrapped from the product lineup of Tata Motors. Recently, it was reported that Tata Motors could be reviving the Nano moniker as an electric vehicle to further expand its rapidly growing EV arm.
As of yet nothing has been confirmed and this speculation should be taken with a grain of salt, but nonetheless, it has been reported that Tata Motors could bring back the Nano as an EV. As part of its ambitious footprint growth in the electric transportation category and to protect current investments in the Nano project, the company could be thinking about a Nano resurrection and platform update, according to sources. However, an email response from a Tata Motors spokesperson following contact read, “Tata Motors doesn’t comment on speculation and forthcoming vehicles.”
N Chandrasekaran, chairman of Tata Motors, recently underlined the company’s goals for electric vehicles (EVs). He reported that the company sold 5,000 EVs in FY21 and 19,500 in FY22 at the 77th AGM. In the current year, the objective was to sell 50,000 EVs, attaining 100,000 by FY24. Over 24,000 EVs have already been sold by the corporation between April and November 2022, a significant increase over the 19,500 units sold in FY22.
In other Tata Motors recent reports, it was revealed that Tata Motors is planning to raise passenger vehicle prices beginning next month in an effort to make its model line compliant with stricter pollution rules that go into effect on April 1, 2023. The new prices, in Shailesh Chandra’s opinion, should mitigate the effects of commodity costs, which have been high for most of the current year. Chandra is the Managing Director for Passenger Vehicles and Electric Vehicles at Tata Motors.
While speaking to a media outlet, Mr. Chandrasekharan stated,
The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year. So we are evaluating a price increase basis some of the residual effect that is left as far as the commodity prices are concerned. Battery prices and new regulations have also impacted the EV side. We are exploring potential price increase next month because of these factors for both ICE and EVs.