TPEM Partners with Vertelo to Drive E-Mobility Growth in India
Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd., renowned for spearheading India’s electric vehicle (EV) revolution, has recently signed a non-binding Memorandum of Understanding with Vertelo, a Macquarie-managed integrated fleet electrification platform.
The agreement entails the delivery of 2,000 XPRES-T EVs, marking a significant stride in accelerating India’s transition to sustainable e-mobility. The rollout of cars to Vertelo will commence in a phased manner, enhancing accessibility to eco-friendly transportation options.
Strengthening India’s EV Movement
In a statement, Mr. Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Ltd., emphasized the commitment to advancing sustainable mobility in India.
“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. With over 89% market share in FY 24, the fleet segment has seen a 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.”
He said.
Vertelo’s Perspective
“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.”
Commenting on the partnership, Sandeep Gambhir, Chief Executive Officer, Vertelo stated that.
Key Features of XPRES-T EV
Introduced under the ‘XPRES’ brand exclusively for fleet customers in July 2021, the XPRES-T EV represents Tata Motors’ dedication to providing innovative solutions for the evolving transportation landscape. The electric sedan offers two range options – 315km and 277km (ARAI certified range under test conditions) – catering to diverse operational needs.
Equipped with a high-energy density battery of 26 kWh and 25.5 kWh, the vehicle can be charged from 0-80% in 59 minutes and 110 minutes, respectively, using fast charging. Additionally, it supports normal charging from any 15 A plug point, ensuring convenience and accessibility.
With zero tail-pipe emissions, single-speed automatic transmission, dual airbags, and ABS with EBD as standard features across variants, the XPRES-T EV prioritizes safety and sustainability. Its premium interiors, complemented by standard automatic climate control and Electric Blue accents, set it apart in the market.
About Vertelo
Vertelo, a pioneering platform in fleet electrification in India, aims to expedite the transition of fleets to electric vehicles. Offering end-to-end solutions, including leasing and financing, charging infrastructure, fleet management services, and end-of-vehicle life management, Vertelo strives to build a robust EV ecosystem.
Established by Macquarie Asset Management and backed by the Green Climate Fund with a commitment of up to $US200 million, Vertelo plans to invest $US1.5 billion over 10 years to achieve substantial greenhouse gas emissions reduction, contributing significantly to India’s sustainability goals.
