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BENGALURU (Reuters) -Indian automaker Tata Motors Ltd has signed an agreement to potentially buy a Ford Motor manufacturing facility in the western state of Gujarat as it looks to ramp up its production of electric vehicles.

Currently, EV sales only account for 1% of total auto sales; this is expected to hit 30% by 2030. Tata Motors account for 90% of EV sales in India and has the first-mover advantage to flourish without the pressure from foreign EV peers.

Tata Motors Limited (NYSE:TTM ) Q4 2022 Earnings Conference Call May 12, 2022 9:00 AM ET Company Participants Sneha Gavankar - General Manager, Mergers and Acquisitions Thierry Bollore - CEO, Jaguar Land Rover PB Balaji - Group CFO Girish Wagh - Executive Director, Tata Motors Shailesh Chandra - President, Passenger and Electric Vehicle Business, Tata Motors Adrian Mardell - CFO, Jaguar Land Rover Sneha Gavankar Good day. Welcome to Tata Motors Q4 FY '22 Earnings Conference Call.

To make its first electric vehicle for the consumer market, India's Tata Motors Ltd repurposed an unused shop floor at its flagship plant. Here, there's no fancy assembly line - Nexon SUV bodies designed for gasoline models are wired and fitted with battery packs by hand.