It said the recent Sierra EV launch offered 63 kWh and 75 kWh battery options, with the latter delivering over 500km range.
The peak power stands at 175 kW, with an additional 103 kW motor in QWD configuration. The introductory pricing ranges from ₹18.8 lakh to ₹24.8 lakh, placing it in competition with M&M’s BE6, XEV 9E, and top-end Maruti e-Vitara.
Relative to the Hyundai Creta Electric and MG ZSEV, the pricing appears competitive, particularly with entry-level variants positioned close to rival top-end trims, which might drive up-trading, Citi said.
The management highlighted power, range, charging time, cabin space, acceleration, technology, safety, gradeability, and lifetime warranty as key selling points, the brokerage said.Tata Motors PV has seen the market share gains post launch of the Sierra ICE and EV could support volumes slightly, it added.
However, it has maintained its ‘sell’ ration, given the cautious stance on JLR.
During its investor day last week, the company guided for its topline to nearly double by financial year 2029. The company sees its standalone revenue at ₹1.15 lakh crore by financial year 2029, and ₹1.4 lakh crore by financial year 2031, in comparison to ₹58,500 crore reported in financial year 2026.
On a consolidated basis, the company expects revenue growth of 37% from financial year 2025 levels. Consolidated topline is seen at ₹5 lakh crore by financial year 2029 and ₹6 lakh crore by financial year 2031.
Of the 32 analysts who have coverage on the Tata Motors PV stock, 12 have a ‘buy’ rating, 11 have a ‘hold’ rating and nine have a ‘sell’ rating.
Shares of Tata Motors Passenger Vehicles are trading 1.5% lower on Wednesday at ₹346.95.
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