On August 7, Tata Motors launched the Curvv EV, India’s first mass-market coupe SUV. At 11:49 am on the same day, Tata Motors’ share price was up 0.57% at ₹1,019.45 on the BSE, with a market capitalization of ₹3,38,948.94 crore.
The Curvv EV was introduced at a starting price of ₹17.49 lakh (ex-showroom), with the high-end long-range variant priced at ₹21.99 lakh. Bookings for the new coupe SUV will begin on August 12, 2024. Shailesh Chandra, Managing Director of Tata Motors, highlighted that electric vehicles now account for 12% of the company’s sales.
The Curvv EV is positioned above the Tata Nexon EV in the mid-size SUV segment and is set to compete with models like the Hyundai Creta and Maruti Suzuki Grand Vitara. This launch strengthens Tata Motors’ electric vehicle lineup and introduces their first offering in the compact C-segment SUV category, strategically positioned between the Nexon and Harrier models. The launch event is currently unveiling the electric version, with internal combustion engine (ICE) variants expected to follow next month.
The Curvv EV has a distinctive design with a sloping roofline that gives it a coupe-like silhouette. The front fascia features a connected LED daytime running light (DRL) strip across the bonnet, with the main headlights positioned lower. While it shares some design elements with the Tata Nexon, the Curvv stands out with 18-inch alloy wheels and flush-fitting door handles. The car offers 500 litres of boot space, balanced 50:50 weight distribution, and a ground clearance of 190 mm. It also boasts a water wading depth of 450 mm.
The Curvv EV has a 1.2C charging rate, allowing it to achieve a range of 150 km with just 15 minutes of charging. For the ICE version, there will be three engine options: two petrol and one diesel, including the new Hyperion GDi engine, which produces 125 hp and 225 Nm of torque.
Standard features of the Curvv EV include six airbags, ESP, all-wheel disc brakes, and various other safety and convenience features. It is also equipped with acoustic alerts for pedestrian safety and Level 2 ADAS (Advanced Driver Assistance Systems). This launch marks Tata Motors‘ first new car in the Indian market in eight years, underscoring their commitment to innovation and sustainability.
Tata Motors, India’s leading manufacturer of passenger electric vehicles (EVs), is making a bold move to compete with conventional carmakers. By pricing its EVs to match the cost of traditional internal combustion engine (ICE) vehicles, Tata Motors aims to attract more customers to their electric lineup. This strategy comes at a time when the entire industry is experiencing a slowdown in EV sales.
One of the major announcements from Tata Motors is the introduction of the IC-engine version of the Curvv coupe. This new model will be built on the company’s ATLAS platform, though the prices for the petrol and diesel variants have yet to be revealed. The Curvv SUV is set to strengthen Tata Motors’ presence in the competitive SUV market, where their Punch and Nexon EVs are already best-sellers.
Shailesh Chandra, Managing Director of Tata Motors, stated that introducing an SUV coupe in the crowded mid-SUV segment is a strategic move. The distinctive design and pricing of the Curvv EV aim to stand out in a market saturated with similar offerings. While pricing is a significant barrier to EV adoption, Chandra acknowledged that other issues, such as inadequate charging infrastructure and charge anxiety, are also deterring potential buyers. Many consumers are concerned about the limited availability of charging stations and the lengthy time required to charge EVs fully.
To address these concerns, the Curvv EV can be charged quickly, offering a range of 150 km with just 15 minutes of charging using a fast charger with a power output of 70 kW or more. This feature is expected to alleviate some of the charge anxiety among potential buyers.
Despite the current slump in EV sales, Tata Motors is optimistic about the future. The company attributed the sharp decline in EV sales in July and the first quarter of the fiscal year to a “significant pre-buy” by the fleet segment before the withdrawal of FAME subsidies. These subsidies had previously made EVs more affordable for fleet operators, but their removal led to a temporary drop in sales.
Chandra expects that EV sales will recover in the second half of the fiscal year, particularly with the onset of the festive season. Festive periods often lead to increased consumer spending, and Tata Motors anticipates that this trend will help boost their EV sales.
The Curvv EV’s launch is part of Tata Motors’ broader strategy to expand its electric vehicle portfolio and make EVs more accessible to the average consumer. By aligning the prices of their electric models with those of conventional vehicles, Tata Motors hopes to overcome one of the primary barriers to EV adoption. Additionally, the introduction of the IC-engine version of the Curvv coupe on the ATLAS platform demonstrates the company’s commitment to offering a variety of options to meet different consumer needs.
Overall, Tata Motors is taking significant steps to stay ahead in the evolving automotive market. Their approach to pricing, coupled with the introduction of new models, highlights their dedication to innovation and customer satisfaction. With the expected recovery in EV sales later in the year, Tata Motors is well-positioned to maintain its leadership in the Indian electric vehicle market and continue to drive the adoption of sustainable transportation solutions.