A non-binding Memorandum of Understanding was signed by Tata Passenger Electric Mobility Ltd. (TPEM), a division of Tata Motors Ltd., and Vertelo, an integrated fleet electrification platform managed by Macquarie, regarding the supply of 2,000 XPRES-T EVs.
The goal of this collaboration is to support initiatives to hasten India’s shift to environmentally friendly e-mobility. The autos will be gradually delivered by the firm to Vertelo.
Vivek Srivatsa, Chief Commercial Officer, of Tata Passenger Electric Mobility Ltd. said, “As market leaders of passenger EVs in India, we are committed to the uptake of sustainable mobility in the country. With over 89% market share in FY24, 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. Such collaborations in the industry will further help strengthen our market position amidst India’s EV revolution.”
Sandeep Gambhir, Chief Executive Officer, Vertelo stated: “We are really 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. We hope that this partnership will help with accelerating the shift towards a more sustainable India by making bespoke leasing options available to fleet operators that help them onboard EVs in larger numbers.”
The XPRES-T EV is the first car to be sold under Tata Motors’ new fleet-only brand, XPRES, which was introduced in July 2021. There are two range choices available for the new XPRES-T electric sedan: 315 km and 277 km (ARAI-approved range under test circumstances). It has a high energy density battery that can hold 26 kWh and 25.5 kWh, respectively, and can be charged from 0% to 80% in 59 and 110 minutes, respectively, utilising fast charging. Alternatively, it may be charged conventionally from any convenient 15 A plug point. It has dual airbags, a single-speed automated gearbox, zero tailpipe emissions, and ABS with EBD as standard equipment on all versions.
In India, a brand-new platform called Vertelo offers comprehensive fleet electrification options. By providing customers with customised solutions such as leasing and financing, fleet management services, end-of-vehicle life management, charging infrastructure and energy solutions, and leasing and financing, the firm hopes to hasten the transition of fleets to electric cars and create a strong EV ecosystem. The Green Climate Fund has pledged to spend up to $200 million in the new platform, which was founded by Macquarie Asset Management with anchor funding. Vertelo intends to invest USD 1.5 billion over a ten-year period to potentially reduce greenhouse gas emissions.
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