Firstly, congratulations because it is such an attractive pricing for this particular car, but what I want to understand is Thiago is already a top selling model for you, be it eyes, CNG and now Evie, what kind of cannibalization effect you are seeing with this car launch. You know one that, as you rightly said, that Thiago is a very successful car and uh. Therefore, it gets the rub off benefit or for as far as EV is concerned, the customer segment for an Eevee versus Diego say petrol, a very different customers right right. As I said, there are three kind of customers who would be still seeking for a product like this. There are people who can afford expensive car, but they are still looking for a car with premium feature because of the taste but coming on a smaller footprint. So thats one category of customer which might not be typically your Tiago petrol customer for us or a person who is doing uh. You know 50 kilometer, plus even 100 kilometer a day because of his daily commute and the need of that particular customer. They see a huge saving by going for an EV thats, the second category of customer and yes, as far as automatic transmission is concerned, where people are really looking for a convenient driving in congested cities thats the third kind of customer. This is a very different experience of an automatic, but this will come at a premium, so there will be customers who will be different than a customer for otiago petrol of CNG.

There will always be a bit of cannibalization, but not to the extent that we will be concerned about it. Okay, but when it uh comes to this sales Outlook, what is the expectation on that, and also what I understand is that all your existing EVS, also like the ice engine, have a waiting period of over six months. What is the uh production capacity for this Thiago? Ev for now so ah as far as capacity is concerned, first, what will be the expected Demand right? We have seen that the products that we have electrified. Typically, you get a penetration of work – 20, 25 percent. But here we have come with a product which is very accessible and therefore we expect that, because of this accessibility of the prices, it will attract more demand, it will see better penetration. At the same time, we also said that we are expanding the number of cities where we were selling our electric vehicles. Earlier we were selling in 90 cities. We are going to expand this to 170 cities now, so that is also going to generate more demand. So I would expect that the penetration for Thiago, if we can go up to 30 35 percent, is ballpark Planning number that we would have kept in mind. As far as capacity is concerned, the capacities of Thiago I can make ice as well as Evie. I make it on the same line so, therefore, if there is a need to ramp up from an internal capacity perspective, we should be ready.

Well, have to just do a component Supply ramp up, which can take a bit of time, but we have already planned for some volumes, which definitely I would not like to disclose, but I have already given you a fair estimate of what kind of penetration we are. Looking for okay, they totally take your point, but when it comes to Evie a couple of challenges there in terms of the short term challenges, if I may call first one is the lithiumine prices. How is Tata Motors as a company tackling that and what is the on ground situation regarding that? Fortunately, you know the trend which I see is that uh, while the lithium and lithium prices have been increasing over the last say nine months to 12 months, there is a bit of stability now that you are seeing so therefore, I I dont too much worry about The short term volatilities, I see a longer term secular Trend which should only go down youre, seeing the pace at which big markets like Europe and UK are shifting towards electric vehicle. They have defined a timeline 2035 2030. So, as the scale grows one there will be a challenge on the supply side. At the same time, that scale should help bring down the cost of the batteries. As we have been seeing in the past. Also, the secular trend has been downward, so I would not too much worry about the short term volatilities, but as the prices are not stabilizing, there is also, fortunately, for us, the commodity prices in general are also kind of moderating, so it will offset.

So there are offsetting factors also uh to the increase, but long term. I am quite uh hopeful of the battery prices continuing to see a long term secular Trend downwards. Okay last couple of questions uh, the second last one is on the small car segment, because what we understand right now is that that particular segment is getting the hit most when in comparison to the sales in sues. You have launched in EV in the hatchback segment. Whats the strategy going ahead will more be the focus area in the small car segment. How is Tata Motors trying to place itself? You know, I think that uh EV offers a very different proposition, in fact its a stronger proposition, because a customer not only sees the acquisition price, they see the total cost of ownership, which is, if Im owning the car for five years. What will be my running? Cost because running cost is a big cost for any customer maintenance cost, Etc. I think this gives a tremendous running cost advantage, also because there is always a worry of petrol prices going up or so EV. The prices are stable right because of the electricity and all. So I think, therefore it is a boon for the segment which had been under pressure, so Im very confident that with the premiumness of this car at the same time, a very disruptive pricing and its a unique advantage of a very low running cost and low ownership Cost is going to be really advantageous, especially in the emerging situation.

I would say: okay, but my last question the last time we met. I questioned you regarding whether its the compact SUVs now and the sedan, and then you launch the hatchback which more segments are more segments on The Hit List of Tata Motors, see I think you have read it rightly we when we announced that we are going to Do 10 products? The underlying statement was also that it will be in different affordability, points, different range options and different body styles. There are actually three prevalent body styles, which are SUVs, sedans and hutches yeah, and then, of course, you have some Vans and empties, but this this is the mass right. These three body styles, we had launched an SUV. We had launched a sedan. We have launched the different categories of sues. Is that so therefore, going forward now we are going to have more products in SUVs. I can confirm that there will be no additional product in sedan space, but theres going to be hatch and SUV. Both you have a new body style which we have created, which is a coupe which we had unveiled uh in April, which was the concept curve. That is also an additional product which is going to come okay. So we look forward to that very much again and all the best.

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