According to foreign media reports, Tata Motors has become the first Indian automaker to rank among the top 10 global auto companies by market capitalization.
As of July 31, the company had a market capitalization of $51 billion, making it the most valuable car company in India.
This achievement has been helped by a surge in Tata Motors’ share price, which is up more than 50 per cent this year and more than 101 per cent last year.
Photo: Tata Group, Tesla remains firmly at the top of the auto industry with a market capitalization of $711.
19 billion, followed by Toyota Motor with a market capitalization of $307.
5 billion, and BYD ranked third with a market capitalization of $92.
65 billion.
Other car companies in the top 10 by market capitalization include Ferrari ($74.
02 billion), Mercedes-Benz Group ($71.
26 billion), Porsche ($68.
29 billion), BMW Group ($59.
54 billion), Volkswagen Group ($58.
18 billion) and Honda ($56.
12 billion).
Tata Motors ranks 10th by market capitalization, surpassing several major global automakers, including Stellantis Group ($50.
64 billion), General Motors ($49.
74 billion), Maruti Suzuki ($48.
36 billion), Mahindra Motor ($43.
41 billion), Ford Motor ($43.
1 billion), Hyundai Motor ($37.
88 billion) and Kia Motor ($32.
29 billion).
Tata Motors currently dominates the Indian electric vehicle market, with a market share of more than 60%.
In fiscal 2023 alone, the company sold 64217 electric vehicles, up 66 per cent from the previous fiscal year.
To consolidate its market leadership, Tata Motors has set ambitious goals, including creating synergies between electric vehicles and rooftop solar (RTS).
The company plans to cross-promote rooftop solar and electric vehicles, with the goal of increasing the proportion of users of Tata electric cars with rooftop solar energy to 50% by 2030 from the current “10% Muoi 15%”.
By 2030, Tata Motors plans to further strengthen its market share in compressed natural gas (CNG) and electric vehicles by introducing new products such as the iCNG Nexon and launching 10 new electric vehicles by fiscal year 2026.
In addition, Tata Motors has partnered with its brand JLR to develop high-end all-electric Avinya models and use the EMA sharing platform to accelerate its entry into India’s high-end electric car market.
Agratas, another subsidiary of Tata Motors, focuses on improving battery safety and reducing costs, providing Tata Motors with a key competitive advantage.
Tata Motors is relying on its “3Es” strategy, namely Expansion, electric vehicle ecosystem (EV Ecosystem) and electric vehicle channel (EV Channel), to drive electric vehicle sales and support India’s electrification process.
The company plans to launch new products, such as the Tata Curvv.
ev and Harrier.
ev, before fiscal year 2025, followed by the Sierra.
ev and Avinya in fiscal year 2026, which will be equipped with advanced features and improved user experience.
Tata Motors is using platforms such as Acti.
ev and EMA to address key challenges such as mileage and technical issues for electric vehicles.
To support India’s growing electric vehicle ecosystem, Tata Motors has established partnerships with entity companies such as Tata Electric, ChargeZone, Hewlett-Packard, BPCL and Shell.
These collaborations are aimed at expanding the network of public and community charging stations to meet the needs of various use scenarios.
In addition, Tata Motors plans to expand its business and influence in major Indian cities in the next 24 months, with the goal of opening exclusive channels for electric vehicles in 50 cities.
Tata Motors also recently announced a plan to split into two entities, a move that received positive reviews from analysts.
After the spin-off, Tata Motors’ passenger car business will include India’s local electric vehicle division and Jaguar Land Rover, providing investors with investment opportunities in the local and global high-end markets.
Sharekhan, a leading brokerage firm, believes the move will enable investors to take advantage of the growth of the mass market passenger car business and may challenge Maruti Suzuki’s dominance in the Indian market, the Economic Times reported.
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