Tata Motors Ltd said on Monday that the waiting period for its electric cars has gone up to six months while it is up two months for most other vehicles due to an acute shortage of chips required for the engines.
Tata Motors is the largest seller of electric vehicles (EVs) in India with a 71% market share. EV sales made up 5% of its total car sales in October, and the percentage would be in double-digits once it clears the order backlog, the company’s Chief Financial Officer, PB Balaji, said during an earnings call.
The company also said it has an order backlog of 125,000 vehicles at its luxury car unit Jaguar Land Rover (JLR) due to the crisis and it is giving priority to its more profitable markets first.
"We are doing our level best to deal with the problem but we are dealing with a global crisis on semiconductors and there is only so much we are able to do," Balaji said.
The company has posted a consolidated net loss of Rs 4,442 crore which is much higher than the loss of Rs 314 crore in the same quarter last year.