tata motors

Tata Motors To Invest  ₹15000 Cr. In Indian EV Industry

Tata Motors aims to invest Rs 15,000 crore in the electric vehicle industry over the next five years. The business, which is a market leader in the rapidly growing EV area with products such as Nexon, also intends to produce about ten additional items in the segment.

Tata Motors

TPG, a private equity firm, had invested USD 1 billion in Tata Motor’s EV segment, valuing the company at USD 9.1 billion. A portion of this investment will also be utilized to speed the development of the EV ecosystem by providing charging stations.

Tata Motors has sold 22,000 EVs till now and if the impact of so many vehicles were to be assessed in terms of carbon dioxide emissions, it is akin to planting 1.5 lakh trees. They currently have a network of roughly 400 charging stations in Maharashtra, 15-20 of which are in Aurangabad alone, and so plans are to expand them pan-India.

Aurangabad Municipal Corporation along with Tata Motors has been aggressively working on cleaning the city’s air, and as part of this drive, they are working on creating an environment for electric vehicles, with plans to build 200 charging stations on land provided by them.

They have also issued proposals for the acquisition of 60 electric buses, and the installation of charging stations will be required throughout the city beginning April 1 for new residential developments. The efforts of the citizens of Aurangabad in opting for EVs need to be emulated across the country.

This is a Syndicate News Feed; edited by Clean-Future Team