Passenger vehicle sales also increased
Total domestic passenger vehicle sales grew by 87 per cent to 45,197 units in June 2022 as compared to 24,110 units sold in June 2021. Petrol and diesel car sales increased by 78 percent to 41,690 units, while electric car sales increased by 433 percent to 3,507 units in June 2022 as compared to June 2021.
Electric vehicle sales hit new highs with 9,283 sales in the first quarter of FY2023 and recorded the highest ever monthly sales of 3,507 units in June 2022. The Nexon EV Max, which was launched in May 2022, has seen tremendous demand.
Tata Motors, the vehicle venture of the Tata Group, is a global automobile manufacturer of cars, utility vehicles, pickups, trucks and buses. The company had reported a net loss of Rs 1,032.84 crore in the fourth quarter of FY 2022 as against Rs 7,605.40 crore in the same period of FY 2021. Net sales declined 11.3 per cent year-on-year to Rs 77,857.16 crore during the first quarter of the current financial year.
Tata Motors has increased the prices of its commercial vehicles from today i.e. July 1. The company has increased the prices of commercial vehicles by 1.5-2.5 percent. Tata Motors said that the continuous increase in raw material prices has made production costlier, due to which the decision has been taken to increase the price.
Tata Motors to make semiconductors in India
Tata Motors is also going to play an important role in the manufacturing of semiconductor chips in the country in the coming days. Recently, the automaker has partnered with Japan’s semiconductor company, Renesas Electronics Corporation, for the design, development and production of semiconductors. The partnership is between Tejas Networks Limited, a subsidiary of the Tata Group, and Renesas Electronics.
Renesas will work with Tejas to produce next-generation wireless network equipment, including semiconductor solutions for radio units (RUs) used in telecommunications networks for 4G to 5G and Open Radio Access Network (O-RAN). Including design and development.
Additionally, Renesas and Tata Consultancy Services Limited (TCS) will set up a joint innovation center in Bengaluru. Natarajan Chandrasekaran, President, Tata Sons, said, “We see great potential in collaborating with Renesas in areas such as automotive electronics and current and future telecommunication networks. The collaboration will accelerate our presence in these areas in India as well as globally. will do.”