Tata Motors’ subsidiary, Tata Passenger Electric Mobility Ltd. (TPEM), has signed a non-binding Memorandum of Understanding with Macquarie-managed fleet electrification platform Vertelo 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.
Tata Passenger Electric Mobility Ltd., India’s market leader in passenger electric vehicles (EVs). Speaking on the partnership, Mr. Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd. said, “Such collaborations in the industry will further help strengthen our market position amidst India’s EV revolution.”
Vertelo is a new platform in India that offers comprehensive fleet electrification solutions. Established by Macquarie Asset Management, it aims to accelerate the transition to electric vehicles and build a robust EV ecosystem. The platform has received an anchor investment from the Green Climate Fund, with a total investment of $US1.5 billion over 10 years. Commenting on the partnership, Sandeep Gambhir, Chief Executive Officer, Vertelo stated that “We are really excited to partner with Tata Motors on this long-term strategic partnership to buy up to 2,000 electric cars.”
