Partnership focuses on providing customized leasing solutions to help fleet owners transition to electric mobility while expanding sustainable transportation access across India
15 May 2025 | 5080 Views | By Angitha Suresh
Tata Motors and Vertelo signed a Memorandum of Understanding (MoU) on May 15, 2025, to provide leasing solutions for electric commercial vehicles in India. The agreement enables Vertelo to offer customized leasing options for Tata Motors' complete range of electric commercial vehicles, making sustainable transport more accessible to fleet operators ...
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Tata Motors and Vertelo signed a Memorandum of Understanding (MoU) on May 15, 2025, to provide leasing solutions for electric commercial vehicles in India. The agreement enables Vertelo to offer customized leasing options for Tata Motors' complete range of electric commercial vehicles, making sustainable transport more accessible to fleet operators nationwide.
The partnership will facilitate the transition to electric mobility through specialized leasing arrangements designed for commercial vehicle operators. Vertelo will provide end-to-end solutions including financing, charging infrastructure support, and fleet management services.
Rajesh Kaul, Vice President & Business Head for Trucks at Tata Motors Commercial Vehicles, stated that the collaboration represents a significant step in democratizing electric mobility and extending sustainable transportation solutions to all customers.
Sandeep Gambhir, CEO of Vertelo, emphasized that the partnership will accelerate EV adoption across buses, trucks, and mini-trucks while creating an ecosystem that positions electric mobility as a practical choice for commercial fleet operators.
Tata Motors currently offers several electric commercial vehicles, including the Tata Ace EV for last-mile delivery and the Tata Ultra and Starbus ranges for mass transit. The company has also showcased models such as the Tata Prima E.55S, Ultra E.12, and various electric buses to serve different commercial applications.
India's commercial vehicle sector has been gradually shifting toward electrification as operators seek solutions to reduce operational costs and environmental impact. Government initiatives supporting EV adoption have further encouraged this transition in recent years.
Vertelo, established and managed by Macquarie Asset Management, has received up to $200 million in investment from the Green Climate Fund. The company focuses on building a comprehensive EV ecosystem with solutions spanning vehicle life cycles.
Tata Motors, part of the $165 billion Tata group, is India's market leader in commercial vehicles and among the top three passenger vehicle manufacturers. With operations across multiple countries including India, UK, South Korea, Thailand, and Indonesia, the company has been at the forefront of India's electric vehicle transition.