Tata Passenger Electric Mobility Ltd has collaborated with Vertelo to acceelrate India’s EV adoption
Tata Motors’ subsidiary Tata Passenger Electric Mobility Limited has signed a non-binding Memorandum of Understanding (MoU) with Vertelo. It is a Marquarie managed integrated fleet electrification platform. The new agreement will set the stage for new 2,000 units of Tata’s XPRES-T EVs. This new agreement will help accelerate the country’s transition towards electric mobility.
New partnership towards electrification
TPEM’s chief commercial officer Vivek Srivatsa stated that market leaders of passenger electric cars will commit to promote towards sustainable mobility in India. The EV fleet segment has seen incredible market share that accounts for 89% in financial year 2024. The XPRES-T EV has among the most viable options for both operators in the commercial fleet segment and customers. Tata’s collaboration with strengthen its market position with India’s EV revolution.
Vertelo’s CEO Sandeep Gambhir has also stated their excitement for their new partnership with Tata Motors in the long-term collaboration to purchase up to 2,000 electric cars. This new partnership is aimed at offering electrified fleet and decarbonization in India between two businesses. This new collaboration will accelerate India’s shift towards electrification towards more sustainable future by offering fleet operators to lease electric cars on a large scale.
Tata’s XPRES-T EV
Tata Motors launched its new XPRES-T in July 2021. The flagship model is specifically designed for fleet customers, offering two range options. The base offers a 25.5 kWh battery that offers 277 Km of range on a single charge while the other packs a 26kWh battery with a range 315 Km on a single charge. The vehicle takes 59 minutes going from 0-80% for the top-end model while taking 110 minutes of charge with the base model.
The XPRES-T EV offers a single-speed automatic transmission and offers zero tailpipe emissions with its electrified powertrain. On the features end, Tata XPRES-T EV offers EBD, and ABS and comes with dual airbags, auutomatic climate control, blue accented marking stating its EV appeal.
Vertelo’s role towards electrification
Vertelo is India’s emerging platform that provides end-to-end solution for fleet electrification in the country. Both Green Climate Fund and Macquarie Asset Management backs and supports Vertelo and plans to invest $1.5 billion over the next 10 years. The company aims to boost India’s EV adoption espeically in the electric fleet services which includes financing, leasing, fleet management, charging infrastructure, which further reduce country’s greenhouse emissions.
Also read: Kia to Soon Launch 3 Brand-New EVs in India in 2024
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