TTM - Tata Motors expects to sell 50000 electric vehicles in the current fiscal year

• Tata Motors ( NYSE: TTM ) intends to sell about 50,000 electric vehicles by the end of FY ending March 31 and double that in the 2023/24 period -Chairman N Chandrasekaran said in a shareholders' meeting on Monday - Reuters .
• In 2021/22, the company sold 19,105 EVs, +353% Y/Y.
• "We continue to work closely with our customers and ecosystem partners to mitigate risks and manage uncertainties. Accordingly, we expect performance to progressively improve through the year with the second half of FY23 being notably better than the first half," he said.
• The company's performance is expected to improve in this fiscal year as the overall supply situation is slowly improving and commodity prices are stabilizing.
• The company commands 90% of India’s electric car sales, and appears to be on track to reach its goal of selling 50,000 EVs as the June sales results shows that out of 45,197 total units sold, 3,507 were electric, up 433% from 658 last year.
• Tata ( TTM ) currently sells three EV models, including Nexon EV, Tigor EV and the newest Nexon EV Max.
• Stock up ~15% over the period of one year.

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