Tata Motors is ready to relaunch Nano as an affordable electric car.
The affordable car is the Tata Nano Ratan
In India, about 28.05% of India’s population is middle class, 52.31% lower middle class, more than 32% comfortable middle class and more than 23% upper middle class in rural India. In India, the need for a car is a symbol of the family’s financial position. Indians start thinking about buying a car before they realige their first earning. And this dream came true when Tata launched an affordable car in the name of ‘Tata Nano’.
When competing in the auto market with a focus on price
Due to persistent shortcomings, it was unable to find its place in the market, and its production was halted. Now, Nano is making a huge comeback.
But first, Tata Motors is ready to relaunch Nano as an affordable electric car.
2005: How Tata Nano was born.
In 2005, the announcement of Tata Motors’ affordable car model stunned India and the automobile market. The automaker has announced that it will make an affordable car model. With an affordable car, TATA means a budget-friendly car for middle class and lower middle class families.
For most Indian families, buying a car is now a dream come true. But TATA Nano could noway really come what it was projected to be.
Tata Nano: Affordable car, it has not been able to sustain its market
Tata Nano boosted the market after its launch. In 2010, the company sold 9000 units. But Nano couldn’t meet the fate, that’s why I guess. It fell victim to its marketing pitch and was a catastrophic disaster.
There were many shortcomings in the model, it was too small to fit the family and it was slow, with little potential. The main reason behind low demand is low safety at the time of the accident. Also, early units had a tendency to catch fire.
Indians couldn’t be more pleased with the show and the model has dragged her into the ‘cheap’ category instead of ‘affordable’. Buyers moved to other affordable models and gradually the demand fell. Lastly, production was halted in 2019 when the multinational had a loss.
Nano Key to Success: Electric Vehicles
The key to Nano’s success lies in the reasons for its failure. As the whole world knows, the future of the automobile sector is in electrification. And Tata has already entered the sector.
According to a report published by the Economic Times, Tata Motors plans to produce 50,000 electric cars in the financial year 2022-23. If they meet their goals, these Electric Vehicles have the potential to generate a revenue of Rs. 5000 Crores for the automaker in the financial year 2023 itself.
Have the potential to earn income.
Reinventing Ratan Tata’s dream project.
Ratan Tata’s dream project is to provide affordable cars for Indian middle class families and carry forward the Electra EV dream.
Electra EV offers EV powertrain solutions to TATA Motors and many other automakers. Recently, it delivered a custom-made electric nano to its founder, Ratan Tata. Delivered to Ratan Tata was a custom-built electric 72V nano EV in which Ratan Tata rode.
Electra EV wrote on its LinkedIn runner, “ This is the moment for Team Electra EV when our authors rode a custom- erected 72V Nano EV powered by Electra EV’s powertrain. We’re veritably proud to deliverMr.
Tata’s Nano EV and gain insights from his valuable feedback.
According to Electra EV, these converted nano EVs are part of the all-electric mobility service Sainikpad Sit & Go, based in Bangalore.
Ratan Tata drove in a custom-built 72V Nano EV and checked it out. He seems to have been busy reviewing and refining the electric version of his dream project, Nano.
How a Nano EV can be a trend-changer
Nano was launched to make cars available to the lower-middle class of society. But the shortcomings did not allow it. Now, if the company releases the Nano EV with a better design, more efficiency and a better engine, then customers will lap it up, if it falls under Rs. 5 lakh class.
TATA wants to sell 50,000 cars that require the middle class to buy it in bulk. The available electric models fit the upper-middle-class e.g. The Nexon costs Rs. 12-17 lakhs.
Motor giant Ratan Tata is not only betting on his dream project but also trying to contribute to the dream of an eco-friendly India. Also, it is important to understand the sentiments of the people and build vehicles.
Can Tata win in offering electric vehicles that satisfy customers?