In order to deliver 2,000 XPRES-T EVs, Tata Passenger Electric Mobility Ltd. (TPEM), a division of Tata Motors Ltd. and a leader in India’s electric vehicle (EV) revolution, has entered into a non-binding Memorandum of Understanding with Vertelo, an integrated fleet electrification platform managed by Macquarie. 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 company to Vertelo.
Speaking on the collaboration, Mr. Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric transport Ltd., stated: “We are dedicated to promoting sustainable mobility in India as we are the market leaders of passenger EVs.” We are excited to work with Vertelo to promote the use of electric vehicles in India. Corporates and Institutions have embraced the fleet segment quickly, with over 89% of the market in FY 24. Customers and operators in the commercial fleet category have found the XPRES-T EV to be a compelling alternative. Our market position will be further strengthened by these industry cooperation in the midst of India’s EV revolution.
Sandeep Gambhir, Chief Executive Officer of Vertelo, commented on the collaboration, saying, “We are delighted to work with Tata Motors on this long-term strategic alliance to purchase up to 2,000 electric vehicles. Through this agreement, two companies that are leading India’s fleet electrification and decarbonization efforts will be brought together. With the support of this agreement, we intend to accelerate India’s transition to a more sustainable state by providing fleet operators with customized lease alternatives that facilitate the onboarding of additional EVs.”
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 options available for the new XPRES-T electric sedan: 315 km and 277 km (ARAI approved range under test conditions). 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, utilizing fast charging. Alternatively, it may be charged conventionally from any convenient 15 A plug point. It has two airbags, a single-speed automatic transmission, zero tailpipe emissions, and ABS with EBD as standard equipment on all versions.
It will stand out from other Tata vehicles because to its luxurious amenities, which come with standard automated climate control and Electric Blue highlights throughout the exterior and interior.
In India, a brand-new platform called Vertelo offers comprehensive fleet electrification options. By providing customers with customized 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 vehicles and create a strong EV ecosystem.
The new platform has been established by Macquarie Asset Management and has received anchor investment from the Green Climate Fund which has committed to invest up to $US200 million. Overall, Vertelo plans to invest $US1.5 billion over 10 years with the aim to achieve a potential greenhouse gas emissions reduction.
