- 25 Apr 2024
- ICICI Securities
Company’s EV subsidiary Receives order for 2,000 electric passenger cars (XPRES-T, sedan)
TATAMOTORS - 1013 Change: -14.40 (-1.40 %)News: Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd., has signed a non-binding MoU with Vertelo, a Macquarie managed integrated fleet electrification platform, for the delivery of 2,000 XPRES-T EVs.
Views: Initial hints of such an order placement were seen earlier in the week and with official press release it confirms the said order. It shall further consolidate market leadership that Tata Motors enjoys in the domestic PV-EV space. Tata Motors had launched the ‘XPRES’ brand exclusively for fleet customers. XPRES-T electric sedan comes with 2 range options – 315km and 277km (ARAI certified range) powered by high energy density battery of 26 kWh and 25.5 kWh respectively. It comes with zero tail-pipe emission, single speed automatic transmission, dual airbags, and ABS with EBD as standard across variants.
Impact: Positive