Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd., has entered into a non-binding Memorandum of Understanding with Vertelo, an integrated fleet electrification platform managed by Macquarie. This agreement paves the way for the delivery of 2,000 units of the XPRES-T electric vehicles, marking a significant step towards accelerating India’s e-mobility transition.
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 business 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.”
Features of the XPRES-T EV
Launched by Tata Motors in July 2021, the XPRES-T is the flagship model under the XPRES brand, tailored specifically for fleet customers. It offers two range options – 315km and 277km (ARAI certified under test conditions), powered by high-energy-density batteries of 26 kWh and 25.5 kWh. The vehicle supports fast charging, capable of reaching 0-80% charge in 59 minutes for the 315km range variant and 110 minutes for the 277km range variant. Additionally, the XPRES-T boasts zero tailpipe emissions, a single-speed automatic transmission, dual airbags, ABS with EBD, and premium interiors with automatic climate control and Electric Blue accents, distinguishing it from other Tata models.
Vertelo’s Role in E-Mobility
Vertelo is an emerging platform focused on end-to-end solutions for fleet electrification in India. Backed by Macquarie Asset Management and supported by an anchor investment from the Green Climate Fund, Vertelo plans to invest USD 1.5 billion over the next decade. The company aims to accelerate the adoption of electric fleets by offering comprehensive services, including leasing, financing, charging infrastructure, fleet management, and end-of-vehicle-life solutions, contributing to a reduction in greenhouse gas emissions.
FINAL THOUGHTS
The collaboration between Tata Passenger Electric Mobility Ltd. and Vertelo is poised to make a significant impact on India’s electric vehicle sector. By combining Tata’s expertise in passenger EVs with Vertelo’s fleet electrification solutions, the partnership aims to accelerate the adoption of sustainable mobility solutions across the country. This collaboration could pave the way for more fleets to transition to electric vehicles, offering customized leasing options and bolstering the availability of charging infrastructure. As a result, this alliance may have the potential to play a pivotal role in driving India’s journey towards a greener and more sustainable transportation ecosystem.
