But in my experience, groups of technical folk self-organize. No matter what the formal hierarchy is according to management/HR, an informal meritocracy will form, and natural leaders will emerge... normally being those who are not only good at tech, but also at seeing the bigger picture, including business knowledge and soft skill. These people won't be spending 30% of their time coding, they will be spending 80% of it coding... and 20% helping everyone else out, and talking to leadership about strategy. People who spend 70% of their job organizing the coders are not tech leads, they are project managers (or just managers).
Maybe I am just arguing semantics, and "Tech Lead" means something else to the rest of you... it appears from the few comments here already that every organization labels themselves differently.