Tata Passenger Electric Mobility Ltd. (TPEM), a Tata Motors subsidiary, inked a non-binding MOU with Vertelo. The automaker is famous for leading India’s electric vehicle (EV) revolution.
Vertelo, a Macquarie-managed platform, will deploy 2,000 XPRES-T EVs for integrated fleet electrification.
Furthermore, this collaboration aims to support India’s acceleration towards sustainable electric mobility. Gradually, TPEM will start delivering cars to Vertelo in phased stages.
Speaking on the partnership, Mr Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd., said:
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 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.
About the XPRES-T EV
Tata Motors introduced the ‘XPRES’ brand in July 2021, exclusively for fleet customers, debuting the XPRES-T EV.
The new XPRES-T electric sedan has two range options – 315km and 277km. In addition, equipped with high energy density batteries (26 kWh and 25.5 kWh), the vehicle charges from 0-80% in 59 and 110 mins, respectively. Furthermore, it offers the option of fast charging or standard charging from any easily accessible 15 A plug point.
The EV features zero tail-pipe emission, single-speed automatic transmission, dual airbags, and ABS with EBD as standard across variants. Also, its premium interiors, including standard automatic climate control and Electric Blue accents, set it apart from other Tata cars.
Commenting on the partnership, Sandeep Gambhir, Chief Executive Officer, Vertelo stated:
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 at the forefront of fleet electrification and decarbonisation in India.
We hope this partnership will accelerate the shift towards a more sustainable India by making bespoke leasing options available to fleet operators.
Vertelo’s Role in EV Adoption in India
Vertelo, a recently established platform, offers comprehensive solutions for fleet electrification, targeting the Indian market with end-to-end services. Moreover, the company aims to accelerate the shift of fleets to electric vehicles and establish a robust ecosystem for EVs.
Also, it intends to achieve this target by offering tailored solutions to customers, including:
- Leasing and financing
- Charging infrastructure and energy solutions
- Fleet management services
- End of vehicle life management.
Established by Macquarie Asset Management, the new platform has secured anchor investment from the Green Climate Fund, pledging up to $US200 million. Overall, Vertelo plans to invest $US1.5 billion over 10 years, targeting potential greenhouse gas emissions reduction.
As a result, TPEM and Vertelo’s partnership could significantly shape India’s EV landscape.
