Tata Passenger Electric Mobility Limited To Spearhead Tata’s EV Plans And Business

Tata Motors has formed a separate entity called ‘Tata Passenger Electric Mobility Limited (TPEML)’ for its passenger electric vehicle business. The new entity, incorporated at an initial investment of Rs 700 crore, will focus on the development of Tata’s EVs. 

TPEML will take care of the development, manufacturing, and any other kind of services including sales and aftersales for electric and hybrid vehicles. Earlier this year, the homegrown carmaker, along with TPG Rise Climate (a firm which pursues climate-related investments), announced it will be infusing Rs 7,500 crore over a period of 18 months to expand its passenger electric vehicle business. 

With relatively less presence and competition, Tata Motors is currently enjoying a market share of around 70 percent in the mass market EV segment. In fact, the carmaker has rolled out over 10,000 EVs in India, fueled by the success of the Nexon EV and Tigor EV. The X-Pres T EV, on the other hand, is limited to fleet customers. 

Tata has ambitious plans for its electric vehicle business as it plans to introduce 10 EVs (including Nexon EV and Tigor EV) by 2025. In 2022, we expect the Altroz EV and probably the Punch EV to join the carmaker’s lineup.