Tata Passenger Electric Mobility Ltd. (TPEM), a subsidiary of Tata Motors Ltd., renowned for spearheading India’s electric vehicle (EV) revolution, has inked a non-binding Memorandum of Understanding with Vertelo, an integrated fleet electrification platform managed by Macquarie, to supply 2,000 XPRES-T EVs. This collaboration aims to advance India’s transition to sustainable e-mobility. Deliveries of the vehicles to Vertelo will commence in phases.
Mr. Vivek Srivatsa, Chief Commercial Officer of Tata Passenger Electric Mobility Ltd., expressed enthusiasm about the partnership, stating, “As market leaders in passenger EVs in India, we are dedicated to promoting sustainable mobility in the country. We are pleased to collaborate with Vertelo to boost EV adoption in India. With a remarkable 89% market share in FY 24, the fleet segment has witnessed rapid adoption by Corporates and Institutions. The XPRES-T EV has emerged as a compelling option for both customers and operators in the commercial fleet segment. Collaborations like these in the industry will further fortify our market position amid India’s EV revolution.”
Sandeep Gambhir, Chief Executive Officer of Vertelo, commented on the partnership, saying, “We are thrilled to partner with Tata Motors in this long-term strategic collaboration to procure up to 2,000 electric cars. This partnership seeks to unite two entities leading fleet electrification and decarbonization in India. We anticipate that this alliance will accelerate the transition towards a more sustainable India by offering customized leasing options to fleet operators, facilitating the adoption of EVs on a larger scale.”
In July 2021, Tata Motors introduced the ‘XPRES’ brand exclusively for fleet customers, with the XPRES-T EV being the inaugural vehicle under this brand. The XPRES-T electric sedan offers two range options – 315km and 277km (ARAI certified range under test conditions). It features a high energy density battery of 26 kWh and 25.5 kWh, capable of charging from 0-80% in 59 mins and 110 mins, respectively, using fast charging. It can also be charged from any 15 A plug point, providing convenience. The vehicle boasts zero tail-pipe emissions, single-speed automatic transmission, dual airbags, ABS with EBD as standard across variants, premium interiors with automatic climate control, and Electric Blue accents, distinguishing it from other Tata cars.
Vertelo is a novel platform offering end-to-end solutions in fleet electrification in India. It aims to expedite the transition of fleets to electric vehicles and construct a robust EV ecosystem by offering tailored solutions to customers, including leasing and financing, charging infrastructure and energy solutions, fleet management services, and end-of-vehicle-life management. Established by Macquarie Asset Management, Vertelo has received anchor investment from the Green Climate Fund, committing to invest up to $US200 million. Overall, Vertelo plans to invest $US1.5 billion over 10 years to potentially reduce greenhouse gas emissions.