Tata Motors Electric Vehicles to Become More Cost-Effective

This could be a breakthrough moment in the electric vehicle landscape as Tata Motors EV battery prices are expected to be reduced in near future. Anand Kulkarni, the Chief Product Officer and Head of High Voltage Programs at TPEM, said that the stabilisation in the market could lead to significant development. This suggests that the upcoming Tata EVs such as the Curvv EV might achieve price parity with its ICE derivative. 

Kulkarni further stated that the batteries for Electric Vehicles have changed a lot in the past decade. The battery prices went down from 2010 onwards, reduced from $1000 per kWh to now in the three digit range. This suggests that electric cars might become an affordable option for new car buyers.

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Declining Lithium Carbonate Cost in Battery Production

In the recent past, the battery cost went up by 30 to 35 per cent due to multiple reasons. The delays in expanding the capacity to mine materials, an increase in EV demand and a shortage of raw materials are few reasons for the increase in battery cost. 

Adding to it, key materials including Lithium Carbonate, Graphite and Electrolyte, became expensive by up to 1100%. This increase resulted in the product cost of the battery cells, making them expensive by up to 30 to 35%. Other components such as electronics, internal connections and top tray also became more expensive during this time. 

Over the period of time, several key components of the EV battery become advanced and support multiple advanced features. The new batteries now come with better safety measures, OTA updates and remote battery monitoring. These advanced features further increase the cost of making batteries.

Despite rising material cost, the cost of Lithium Carbonate has been slowly going down. With more innovation in battery technology and materials, the prices of batteries are likely to go down in the near future.

Tata Curvv EV Launch in 2024

Tata Motors had showcased the Harrier EV concept and Curvv SUV Coupe at the 2023 Auto Expo. Both models were showcased in close to production avatar at the 2024 Bharat Mobility Show. The Tata Curvv EV is scheduled to launch in mid-2024, while the Tata Harrier EV is expected to be launched in late 2024 or early 2025. Moreover, Tata will introduce the Tata Sierra EV in 2025.

Additionally, Tata Avinya, a fresh EV Concept, was also showcased. This concept shows Tata’s commitment to contemporary design and groundbreaking concepts.

Read Also: Tata Curvv: Tata Motors Big Bet For 2024