‘May have to hike prices in 2 tranches to manage costs’: Tata Motors MD
2 years ago

‘May have to hike prices in 2 tranches to manage costs’: Tata Motors MD

Live Mint  

Tata Motors Ltd, India’s largest automobile maker, will showcase a variety of electric vehicles at the upcoming Auto Expo. However, due to rising battery prices, new battery standards for EVs, and the implementation of BS-VI emissions standards for IC-engine vehicles in April, the price of new vehicles is expected to increase significantly. To mitigate the impact of these price hikes on customers, the company may need to implement price increases in two phases, Shailesh Chandra, managing director of Tata Passenger Electric Mobility Ltd and Tata Motors Passenger Vehicles, said in an interview. What are the likely price increases for the Tiago EV in January and for the company’s EV portfolio as new battery standards come into effect in April? There are two impacts we have to take care of - the residual impact of commodity price increases and the transition to BS-VI phase-II.We will have to break up this impact into two tranches and pass on the increase to customers as the new rules are implemented, as the two things together will have a significant impact on prices.

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