Tata Motors (TML) plans to invest over $2 billion (INR 16,000 crore) in EV products, platforms, and manufacturing over the next five years, creating an asset-light subsidiary, TML EVCo, to focus on passenger mobility. The broader Tata ecosystem, including Tata Power and Tata Chemicals, is leveraging its strengths across the EV value chain, from charging infrastructure to battery cell development, which could drive significant growth in the Indian EV market. The Total Cost of Ownership (TCO) for EVs is projected to achieve parity with ICE vehicles by FY24, further accelerating EV adoption.