- 07 Jun 2022
- ICICIdirect Research
Tata Motors signs agreement with Blu-Smart Electric Mobility for 10,000 electric vehicles
TATAMOTORS - 976 Change: -59.50 (-5.74 %)News: The company has entered into an agreement with Blu-Smart Electric Mobility (a ride aggregator start-up primarily serving Delhi NCR region) for supplying 10,000 EVs (XPRES T EV). Cars would be having two types of density i.e 21.5 Kwh & 16.5 Kwh providing 213 km & 165 km of certified range and can be charged from 0-80% in 90-110 minutes and is specially developed for fleet use. This order is in additon to 3500 units order received from Blu-Smart Electric Mobility in October 2021
Views: Tata Motors is building upon its leadership position in the electric vehicle space domestically. This fresh order is a further testimony to its superior offering as well as first mover’s advantage. It is leading the e-mobility wave in India with a commanding market share of 87% in FY22 and with over 25000 Tata EVs on road till date in the personal and fleet segment. Furthermore, in an effort to make EVs even more accessible to all, Tata Motors is closely working with other Tata Group companies to contribute to the faster adoption of EVs in India through its EV ecosystem called the ‘Tata uniEVerse’
Impact: Positive