Tata Passenger Electric Mobility signs MoU with Vertelo to accelerate e-mobility in India

The company will begin deliveries of the cars to Vertelo in a phased manner.

Autocar Pro News Desk By Autocar Pro News Desk calendar 24 Apr 2024 Views icon5262 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Tata Passenger Electric Mobility signs MoU with Vertelo to accelerate e-mobility in India

Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd., has signed a non-binding Memorandum of Understanding with Vertelo, a Macquarie-managed integrated fleet electrification platform, for the delivery of 2,000 XPRES-T EVs. 

This partnership aims to bolster the plans to accelerate India’s transition to sustainable e-mobility. The company will begin deliveries of the cars to Vertelo in a phased manner.

Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd. said, “As market leaders of passenger EVs in India, we are committed to the uptake of sustainable mobility in the country.  With over 89% market share in FY24, the fleet segment has seen rapid adoption by corporates and Institutions. The XPRES-T EV has proven to be an attractive option for both customers and operators in the commercial fleet segment. Such collaborations in the industry will further help strengthen our market position amidst India’s EV revolution.”

Sandeep Gambhir, Chief Executive Officer, Vertelo stated: "We are really excited to partner with Tata Motors on this long-term strategic partnership to buy up to 2,000 electric cars. This partnership aims to bring together two business that are at the forefront of fleet electrification and decarbonisation in India. We hope that this partnership will help with accelerating the shift towards a more sustainable India by making bespoke leasing options available to fleet operators that help them onboard EVs in larger numbers."

In July 2021, Tata Motors launched the ‘XPRES’ brand exclusively for fleet customers, and the XPRES-T EV is the first vehicle under this brand. The new XPRES-T electric sedan comes with 2 range options – 315km and 277km (ARAI certified range under test conditions). It packs a high energy density battery of 26 kWh and 25.5 kWh and be charged from 0- 80% in 59 mins and 110 mins respectively, using fast charging or can also be normally charged from any 15 A plug point, which is easily available and convenient. It comes with zero tail-pipe emission, single speed automatic transmission, dual airbags, and ABS with EBD as standard across variants. The premium interiors with standard automatic climate control and Electric Blue accents across its interior and exterior will give it a differentiated presence from other Tata cars.

Vertelo is a new platform providing end-to-end solutions in fleet electrification in India. The company aims to accelerate the transition of fleets to electric vehicles and build a robust EV ecosystem by offering bespoke solutions to customers including leasing and financing, charging infrastructure and energy solutions, fleet management services, and end of vehicle life management. The new platform has been established by Macquarie Asset Management and has received anchor investment from the Green Climate Fund which has committed to invest up to $US200 million. Overall, Vertelo plans to invest USD1.5 billion over 10 years with the aim to achieve a potential greenhouse gas emissions reduction.

Bosch FY24 net profit jumps 75% YoY on one-off gains

auther Kiran Murali calendar24 May 2024

The technology and service provider’s standalone net profit for FY24 came in at Rs 2,491 crore, against Rs 1,425 crore i...

Use of hotstamping materials has increased by about 40% compared to 2016: Glyn Jones, Gestamp India

auther Autocar Pro News Desk calendar24 May 2024

Glyn Jones, MD of auto component maker Gestamp believes that while the market in India is still maturing, there is a gro...

Lightweighting forces us to question whether certain parts are needed or not, says Ashok Leyland’s Subramanian

auther Autocar Pro News Desk calendar24 May 2024

“Lightweighting is not just about structure. It is also about rethinking whether some of the legacy parts are really nec...