Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors, has entered into a non-binding Memorandum of Understanding (MoU) with Vertelo, an integrated fleet electrification platform managed by Macquarie Asset Management. Under this agreement, TPEM will supply up to 2,000 units of its XPRES-T electric sedans to Vertelo, aiming to bolster India’s transition to sustainable mobility.
The XPRES-T EV, introduced in July 2021 as part of Tata’s fleet-exclusive ‘XPRES’ brand, offers two range options—315 km and 277 km (ARAI certified)—powered by high-energy-density battery packs of 26 kWh and 25.5 kWh, respectively. These vehicles can be charged from 0 to 80% in 59 to 110 minutes using fast charging or standard 15 A plug points, making them suitable for commercial fleet operations.
Vivek Srivatsa, Chief Commercial Officer of TPEM, stated, “As market leaders of passenger EVs in India, we are committed to the uptake of sustainable mobility in the country. We are delighted to partner with Vertelo in their effort to increase EV adoption in India.” He highlighted that the fleet segment has seen rapid adoption by corporates and institutions, with TPEM holding over 89% market share in FY24.
Vertelo, launched by Macquarie Asset Management, is designed to provide end-to-end solutions in fleet electrification, including leasing, financing, charging infrastructure, and fleet management services. The platform has secured an anchor investment of up to USD 200 million from the Green Climate Fund and plans to invest USD 1.5 billion over the next decade to support India’s e-mobility ecosystem.
Sandeep Gambhir, CEO of Vertelo, expressed enthusiasm about the partnership, stating, “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.” He emphasized that the collaboration would offer bespoke leasing options to fleet operators, facilitating larger-scale EV adoption.
This alliance between TPEM and Vertelo represents a significant step toward achieving India’s ambitious electric vehicle targets, aligning with the government’s vision for clean and connected mobility. By combining TPEM’s expertise in electric vehicle manufacturing with Vertelo’s comprehensive fleet solutions, the partnership is poised to accelerate the country’s shift toward sustainable transportation.
