BSE Limited Listing Compliance Department

First Floor, New Trading Ring
Rotunda Building, P J Towers,
Dalal Street, Fort, Mumbai 400 001
Kind Attn: Mr Khushro A. Bulsara
General Manager & Head
Listing Compliance & Legal Regulatory
National Stock Exchange of India Ltd.
Exchange Plaza, Bandra Kurla Complex,
Bandra (E), Mumbai 400 051
Kind Attn: Mr Lokesh Bhandari
Senior Manager
Listing & Compliance

November 10, 2021

Sc- 16569

Dear Sirs,

Sub: Submission of Investor presentation made to Analyst/Investors

With further reference to our letter bearing sc no. 16566 dated November 9, 2021 and pursuant
to Regulation 30 read alongwith Schedule III Part A para A of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended, please find enclosed herewith the
presentation made to Analysts/Investors at their meeting held today i.e. November 10, 2021.

Yours faithfully,
Tata Motors Limited

Maloy Kumar Gupta

Company Secretary

Encl: As above
Future of Electric Vehicles in India
Mr. Shailesh Chandra

10th Nov 2021

c Copyright, Confidential, Tata Motors Limited

 Indian EV industry: Progress so far…

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 2
Electrification is an imperative to address key issues of national interest

Issues of National Interest Focus areas

Urban Pollution COP 26 commitment

• 14/15 polluted cities Reduction in emissions intensity by 45%1
• 1.2 Mn deaths percent below 2005 levels by 2030, net
• Welfare losses - 7.7% of GDP zero by 2070

Increasing Trade Deficit “Amtmanirbhar” Bharat

Vehicular fuel requirement to increase to Proactive localization of EVs and New
90Bn in 2030 from 40Bn in 2017 technologies in Automotive filed

Energy Security Employment generation

~70% of oil sourced from countries with Maintain and enhance the employment
geo-political risks
in Automotive sector

1. https://economictimes.indiatimes.com/news/india/global-media-hails-indias-commitment-in-
cop26-summit/articleshow/87566929.cms

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c Copyright, Confidential, Tata Motors Limited
Multiple barriers have kept the penetration of EVs low in India

Range anxiety Ltd. charging infrastructure

Poor range for long/outstation trips, High Inadequate, Unavailable on-demand, Unreliable power
charging time, Unpredictable range supply

Lack of suitable EV options Lack of awareness of EVs

Limited models, Not aspirational, Inadequate range EVs are low speed - low performance cars for city usage

Technology uncertainty
Higher cost
Battery life uncertainty, Safety concerns
Higher vehicle price, Residual value, Battery replacement cost

4
c Copyright, Confidential, Tata Motors Limited
Government has shown a strong intent to drive electrification through enabling
policies to overcome the barriers to adoption

FAME II PLI ACC BSVI Phase II

FAME 1
EV PMP PLI Auto

2013 2015 2017 2019 2020 2021 2022 2023

BSIV
NEMMP EESL Tender 10K EVs BSVI Phase I CAFE

Road Tax & Income Tax

Low GST Rate
Registration waiver Exemption

5
c Copyright, Confidential, Tata Motors Limited
Offering more choices to the customers and addressing the issues around range
and price have been crucial in increasing the consideration for EVs

Xpress- T (LV) : 162 Km and 213 Km, 21 kWh Nexon EV (HV): 312 Km, 30.2 kWh Tigor EV (HV): 306 Km, 25.9 kWh

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c Copyright, Confidential, Tata Motors Limited
Awareness creation, credibility building and myth busting have brought greater
confidence among prospective buyers
Creation of Awareness & Aspiration Building Credibility & Breaking Myths

State of the art EV tech brand Ziptron launch 1st Electric 4 W to travel from Manali to Khardungla (Leh)

An immersive drive experience of the Nexon EV #TheUltimateElectricTest to bust all myths

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c Copyright, Confidential, Tata Motors Limited
Ecosystem Approach has enabled synchronized action among various companies
to overcome the real barriers to adoption

> Charging Solutions > Cell development and local mfg.

Tata Group firms

being leveraged
> Designing Innovative financing for EV business > ADAS | Connected Car Technology
solutions

> Operation of battery assembly plant for

> Nexon
Battery& Tigor
Pack, Other key EV aggregates > Integrated Digital Platform
> Key partner for production ramp-up/
localization implementation

8
c Copyright, Confidential, Tata Motors Limited
 Thus, EV industry has witnessed a significant growth with consumer base shifting
from early adaptors to early majority

EV Industry Growth Demand Scenario and buyer profile ( Tata EVs)

8%
20%
28%
38%
75% 80%
16000 71%
64% 37%
70%
14000 Only car
60% Q4 FY21 Primary car Q2 FY22
12000
47%
Demand
50% Secondary car
10000 increasing
faster than
40%
8000 supply
8010
30%
6000 YTD Impact of
18% 5910
4000 20% COVID 2nd wave
11%
2000 10%
2811
850 1235 1946
0 0%
FY17 FY18 FY19 FY20 FY21 FY22 Jan'21 Feb'21 Mar'21 Apr'21 May'21 Jun'21 Jul'21 Aug'21 Sep'21 Oct'21
Industry TML Market share Booking Retail
~2.8 to 3X
Projected
7X growth in 5 years
Growth
75% market share is till YTD FY22

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 9
 What will support the future growth?

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 10
 Going forward, state specific EV policies will drive EV adoption

Policy Release Status Demand Road tax Charger

State
subsidy exemption subsidy
Jammu and Kashmir Delhi   
Maharashtra   
Himachal
Pradesh
Punjab
Gujarat  X 
Uttarakhand
Haryana
Arunachal
Andhra Pradesh X X 
Delhi Pradesh

Sikkim
Karnataka X  
Uttar Pradesh
Rajasthan
Assam
Nagaland Kerala X Partial 
Bihar
Meghalaya
Manipur Madhya Pradesh X  
Jharkhand Tripura
West
Gujarat Madhya Pradesh
Bengal Mizoram Tamil Nadu X  X
Chhattisgarh
Telangana X  X
Orissa
Maharashtra Uttar Pradesh X Partial X

Telangana
Uttarakhand X  X
Bihar ( Draft)   
Goa
Andhra Pradesh
Goa ( Draft)  X 
Karnataka

Early movers (before 2019) Haryana ( Draft)   

Followers (during and after 2019) Meghalaya ( Draft)   X
Tamil Nadu Draft EV policy awaiting approval
Kerala
Punjab ( Draft) X  
Jharkhand ( Draft)   

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 11
 Stringent emission roadmap will force OEMs to have EVs in their portfolio

Corridor for potential CO2 regulation Required powertrain portfolio

Year
2015 2020 2025 2030
180
Increase in the regulation of CO2

172
166 Regulation “World of today”
150
144 corridor
135
Less than 10% EVs required
130 121
113
g/km

105 107
100
95 96
“Mix of powertrains”
< 90
68-78 ~80 Equitable composition of ICE & EVs
needed
~70
Govt. signalling corridor shift through
50 steeper reduction in targets (105 g/km) 50
“EV World”
CO2 g/km
Primarily EVs and PHEVs needed

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 12
 Customers will get range of options as OEMs gear up to introduce long range EVs
to meet stringent regulations and to support Government's vision
Upcoming EV models Average on board energy

26
24

18
40

30

10

16

FY21 FY22 FY23 FY24 FY18-20 FY20-22 FY22-24

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 13
 Interest from public and private players across the value chain will proliferate
charging infrastructure
Value Chain Outlook : Public Fast Chargers

HW equipment
provider

Infrastructure Hyderabad OEM

owner Metro Dealerships

Charging
station
operator ~1000

CY21 CY24 CY26

Charging
network
provider

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 14
 Localization of battery will help optimize cost

Key highlights of ACC PLI scheme Estimates for cell manufacturing cost [USD/ Kwh]

~10-15%
lower vis-a-vis
UK & USA

• Production linked incentive scheme to establish

battery manufacturing in India
• 18000 Cr. outlay planed
• 50GWh of capacity to be established
• Additional 5GWh for niche battery chemistries
UK USA Germany Swedan China Thiland India

Source – BNEF
Cost is hypothetical for ‘If battery cells are manufactured in India’

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 15
 TCO parity against ICEs will drive consumer adoption

Total Cost of Ownership B2B1 ( with FAME subsidy) Total Cost of Ownership B2C2

EVs vs Diesel EVs vs Diesel

EVs vs CNG EVs vs Petrol
Value in ₹ lakh Value in ₹ lakh

₹ 1.0
₹ 1.1 ₹ 0.6
₹ 0.1

-₹ 1.0 -₹ 0.2
-₹ 0.6
-₹ 1.4
-₹ 6.1 -₹ 2.1
-₹ 7.1
-₹ 8.4

FY20 FY22 FY24 FY20 FY22 FY24

1) Vehicle life 4 years, annual running 50K, 90% financing @12% interest, Charging cost 7/kWh, Resale EV30%, Resale Diesel,& CNG 40%
2) Vehicle life 5 years, annual running 10K, 80% financing @12% interest, Charging cost 7/kWh, Resale EV 20%, Resale Petrol 30%

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 16
 EV penetration in India is well poised to witness sharp penetration and Tata Motors
will plan for 20% penetration in 5 years

• Expand portfolio of offering India specific products with different body styles and
Product driving ranges ( 10 EVs by FY26)
• Transition to Modular Multi-energy platform from Conversion EVs

• Expand beyond existing micro-markets ( 100+ cities , 255 touchpoints in FY22)

Sales & Marketing • Strong focus on states with progressive EV policies
• Continue brand building for awareness creation and driving aspiration
• Increase options to access Tata EVs (e.g Subscription)

• Drive deeper localization ( localization of Tier-1 & Tier 2 components)

Capability building
• Build center of competence

• Expand Tata UniEVerse to offer holistic solutions to customers ( Charging, financing,

Ecosystem
Development: options to access TML EVs etc)
• Operationalising plan on battery reuse, repurpose and recycle

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 17
 Thank You!

© Copyright, Confidential, Tata Motors Limited c Copyright, Confidential, Tata Motors Limited 18