TaMo Hits Speed Breaker on Slow Fleet Electrification

TATA MOTORS, THE country's leading electric vehicle (EV) manufacturer, is witnessing a dramatic reversal in its fortunes as momentum in fleet electrification slows significantly across India.

- NITIN KUMAR

After recording robust fleet orders of 23,000 vehicles in 2022 and 26,000 in 2023, the company's EV order book has plummeted to just 2,000 vehicles in 2024—a staggering 92% decline from its 2023 peak.

Fleet operators, once enthusiastic about transitioning to EVs, are now pulling back. New orders have all but dried up, and even existing ones are facing delays, as operators question whether EVs are delivering the promised cost and performance benefits.

The rising number of competing EV models in the market is also putting pressure on Tata Motors' dominance.