According to the business daily, Tata Motors will source batteries from Octillion Power Systems In China, the Indian carmaker sources batteries from Tata AutoComp Systems to address performance issues and diversify its technology and supply base.
The leading electric carmaker currently sells a range of electric vehicles in India, including electric versions of Tiago, Tigor, Punch, Nexon and the newly launched Curvv.ev. The carmaker is also expected to launch the electric version of Harrier.
According to the report, the Curvv.ev will be the first to feature an Octillion battery.
Tata Motors Tata Motors recently became the first Indian company to enter the ranks of the top ten most valued automotive companies in the world. This achievement comes after Tata Motors shares rose over 50 per cent this year and over 101 per cent in 2023. The company’s market capitalisation reached $51 billion on July 31, making it the most valuable automotive company in India.
Tata Motors is now among the giants of the industry. Tesla Inc. secures the top position in the auto sector with a market capitalization of $711.19 billion, followed by Toyota Motors at $307.50 billion and BYD Company at $92.65 billion. Meanwhile, electric vehicle sales in India have been on the decline. Electric vehicle registrations fell 2.92% to 7,541 units in July amid slow adoption among buyers, among other factors. Tata Motors controls nearly 68% of the segment. Earlier this month, Shailesh Chandra, managing director of Tata Motors Passenger Vehicle and Passenger Electric Mobility, said the fall in electric vehicle sales in recent months should not be singled out as the sole cause and should be seen in the context of a broader slowdown.
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