Tata Motors Posts Record EV Sales in Q1
Tata sold 48000 EVs up 67% YoY.
Tata Motors reported record electric vehicle sales of 48,000 units in the first quarter of 2026, representing a remarkable 67% increase year-on-year and cementing the company's dominant position in India's rapidly growing EV market with over 70% market share. The Nexon EV and newly launched Punch EV models were the primary growth drivers.
Average selling prices declined 12% compared to a year ago, reflecting battery cost reductions that have made EVs increasingly competitive with petrol vehicles in India. The Punch EV, launched at an aggressive price point of 899,000 rupees ($10,700), has become the bestselling EV in the country. India's charging infrastructure has expanded dramatically, with over 12,000 public fast-charging stations now operational, up from just 4,000 two years ago.
Tata Motors shares rose 3.4% on the Bombay Stock Exchange following the announcement. The company revealed plans to launch three new EV models by year-end, all targeting the critical sub-$15,000 segment where the majority of Indian car purchases occur. CEO said the company aims to sell 200,000 EVs in the full fiscal year, which would represent a fourfold increase from fiscal 2024.
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