Tata Motors - TESLA of India ?
Tata Motors which reported extremely poor results last quarter due to covid impact is looking ahead now. Tata Nexon EV (electric vehicle) sales is above expectations as per market reports. Tata has been getting extremely positive response for its EV compared to MG or Hyundai. Can this be treated as a positive to buy Tata Motors shares ? Lot of questions to be answered.
Can this surge in EV sales lift Tata Motors ?
Tata motors has an upper hand in EV game as it has charging infrastructure ready in most cities at least in the dealerships and the service network is remarkable.
Also going by the sales, Tata nexon EV is the first real blockbuster EV car in India. Tata could easily capitalise on the EV transformation wave.
Tata motors shared are set for value upgrade considering the bright future for EV. Could Tata motors be the TESLA of India ? This question can be answered in the next 12 months easily.
Govt has also announced sops for EV like Zero road tax, subsidy for Battery, Registration and approval of EV car without battery thereby the option for customers to procure battery independently. Batteries contribute to 30-40% of the cost of an EV.