Harrier.ev launch: What Nomura India says on Tata Motors stock

Tata Motors launched its new Harrier.ev on 3 June 2025, priced at an introductory Rs 21,49,000. This marks Tata's sixth electric vehicle (EV) entry following models like the Tiago EV and Nexon EV. Built on the Pure EV architecture acti.ev+, bookings will commence on 2 July 2025.

The Harrier.ev offers two battery pack options, 65kWh and 75kWh, with the latter providing an ARAI range of 627kms. Noted for its performance and luxury integration, it is said to deliver 504NM of torque, claiming the highest in its segment. It is touted as the fastest SUV in its class, reaching 0-100 kmph in 6.3 seconds.

Advanced features include E-valet with auto park and summon mode, a 540-degree surround view system, and ADAS L2 with 22 functionalities. Notably, it is India's first car with low-speed autonomous emergency braking.

Nomura India views the Harrier.ev as a significant player in expanding the EV segment, estimating EV penetration to reach 4% in FY26 and 5% in FY27, up from 2.3% in FY25. Tata Motors' strategy aligns its EV offerings with MM BEVs, focusing on high-range, feature-rich models.

The pricing of the Harrier.ev is expected to align with entry diesel automatic variants in the high SUV segment. Tata Motors aims to boost sales, with the Harrier ICE previously selling approximately 1,500 units monthly. The introduction of innovative features is projected to enhance market appeal.

Nomura maintains a Neutral rating for Tata Motors with a SOTP-based target price of Rs 799, suggesting a 13.5 per cent upside. The stock trades at 4.5 times FY27F EV/Ebitda. Customer feedback and test rides of the Harrier.ev will be closely observed, it said.

The launch is anticipated to strengthen Tata Motors' presence in the EV market, showcasing its commitment to innovation and competitiveness against players like Mahindra Electric,