Tata Passenger Electric Mobility and Vertelo partner to accelerate India’s EV adoption with 2,000 electric vehicles
Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd. and a leader in India’s electric vehicle (EV) revolution, has entered into a non-binding Memorandum of Understanding with Vertelo, an integrated fleet electrification platform managed by Macquarie. The partnership entails the delivery of 2,000 XPRES-T EVs, aimed at accelerating India’s transition to sustainable e-mobility.
The delivery of these electric vehicles will commence in a phased manner, reflecting TPEM’s commitment to enhancing sustainable mobility in India. This move is strategically aligned with Vertelo’s objective to transform fleet operations into eco-friendly systems, thereby pushing forward the decarbonization and electrification of transportation in India.
Vivek Srivatsa, Chief Commercial Officer at TPEM, expressed enthusiasm about the collaboration: “As market leaders of passenger EVs in India, we are delighted to partner with Vertelo in their effort to increase EV adoption in India. With over 89% market share in FY 24, 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.”
Sandeep Gambhir, CEO of Vertelo, also commented on the partnership: “We are 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 businesses that are at the forefront of fleet electrification and decarbonisation in India.”
Launched in July 2021 under the exclusive ‘XPRES’ brand for fleet customers, the XPRES-T EV offers two range options – 315km and 277km, certified under ARAI test conditions. It features high energy density batteries of 26 kWh and 25.5 kWh, capable of fast charging from 0-80% in 59 to 110 minutes, respectively. Additionally, the vehicle can be charged from any 15 A plug point, adding convenience for fleet operations. The XPRES-T EV comes with zero tail-pipe emissions, single-speed automatic transmission, dual airbags, and ABS with EBD as standard across variants.
Vertelo, supported by Macquarie Asset Management and an anchor investment from the Green Climate Fund, is committed to investing up to $US1.5 billion over the next decade to build a robust EV ecosystem. This includes providing bespoke solutions like leasing and financing, charging infrastructure, fleet management services, and end-of-vehicle life management, aiming for a significant reduction in greenhouse gas emissions.
This strategic alliance between Tata Passenger Electric Mobility and Vertelo is a significant step towards achieving a greener future in India’s transportation sector. By facilitating larger-scale adoption of EVs, particularly in the commercial fleet segment, this partnership not only supports environmental goals but also sets a benchmark for the automotive industry in regional and global markets.