Tata Motors joins new division to develop electric vehicles

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Tata Motors Limited has incorporated Tata Passenger Electric Mobility Limited (TPEML) to manufacture all services related to electric vehicles. The Ministry of Corporate Affairs, Government of India issued the Certificate of Incorporation on December 21, 2021.

Tata Motors announced that TPEML has been incorporated to manufacture, design, develop all types of services related to Electric Vehicles / Electric Mobility, Hybrid Electric Vehicles of all types. It also includes all details for carrying passengers or other personnel, whether powered, moved, towed or assisted by means of electricity, battery, solar power.

In addition, it deals with the production of engines, motors, parts, components, accessories, and related equipment including any other power equipment, as well as the activities necessary for the assembly, fabrication, manufacturing, sales, installation and undertaking of after-sales services. will also cover Marketing, promotional and/or servicing facilities.

New subsidiary has been formed with an initial capital of TPEML consisting of an authorized capital of 70,00,00,000 Equity Shares of ₹10/- with an initial capital of ₹700 crores, aggregating to ₹700 ,00,00,000/-. The entire paid-up share capital will be with Tata Motors.

Tata Motors last year renewed its efforts in the electric vehicle segment with the launch of the Tata Nexon EV. The car has rapidly accelerated sales. In August this year, the Nexon EV became the first electric vehicle to reach the threshold of four-digit sales figures.

Tata Motors also introduced the new Tata Tigor EV earlier this year. Both the Nexon EV and Tigor EV are built using Ziptron technology. Tata Motors Chairman N Chandrasekaran announced that the company plans to launch 10 more electric vehicles by the year 2025.

First appeared on BGR India after Tata Motors incorporated the new division to develop electric vehicles.

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