Tata Motors to Source EV Batteries from Octillion Power Systems
Tata Motors to Source EV Batteries from Octillion
According to a report by Live Mint, Tata Motors is preparing to acquire electric vehicle (EV) battery packs from Octillion Power Systems India Pvt Ltd, an Indian subsidiary of Octillion Power Systems, Inc, a company based in the United States.
Tata Motors offers a range of electric vehicles, including the Tiago, Tigor, Punch, Nexon, and the newly launched Curvv.ev.
The Curvv.ev is expected to be the first model to feature the Octillion battery. Additionally, Tata Motors plans to launch an electric version of the Harrier soon.
Recently, Tata Motors made history by becoming the first Indian company to enter the top ten most-valued global automotive firms, with a market capitalisation of $51 billion. This achievement follows a remarkable 50 per cent rise in the company’s stock this year.
Despite this success, EV sales in India have declined, with registrations dropping 2.92 per cent in July. Tata Motors controls nearly 68 per cent of the EV market, with its Managing Director, Shailesh Chandra, attributing the sales drop to a broader market slowdown.
