Tata Motors is launching a low-priced electric Punch EV starting at $10,650 to capture India's dominant budget car segment, where just 1.6% of vehicles sold last year were electric models. The company aims to overcome range anxiety with a 350 km range and 26-minute fast charging capability, offering a battery warranty and an option to decouple car and battery costs. India's government targets 30% EV adoption by 2030 but faces slow sales growth, pushing Tata to sacrifice margins for long-term electrification. The Punch EV directly competes with JSW MG Motor and Mahindra, while Maruti Suzuki recently entered the segment with leased-battery models.