Tata Motors has bagged its biggest ever electric vehicle fleet order in India for the supply of 10,000 XRESS-T EV units to BluSmart Electric Mobility. Tata Motors signed an agreement with BluSmart Electric Mobility on World Environment Day on June 5, with deliveries starting soon. These vehicles are an addition to the 3,500 XPRESS T EC order signed between both companies in October 2021.
"Tata Motors is taking active steps towards the rapid electrification of mobility, and it is heartening to see renowned fleet aggregators joining the green mobility wave with us," says Tata Motors PV MD Shailesh Chandra, adding that these buses will be deployed across the country.
The company says its XPRES-T EV fleet offers an "optimal battery" size, along with a captive fast-charging solution and has already set benchmarks in its category. "Tata Motors is consistently working towards educating and enhancing the adoption of electric mobility in India and we hope more people join us in this journey as we mobilise the nation to "EvolveToElectric".
"With our $50 million in Series A fundraise, we are supercharged to rapidly expand across Delhi-NCR and the metro cities. We are thankful to Tata Motors for charging up our journey to scale up at a fast pace," says BluSmart Electric Mobility co-founder Anmol Singh Jaggi.
BluSmart Electric Mobility has covered 50 million clean kilometres and delivered over 1.6 million zero-emission rides, says the statement. "We are building a large-scale integrated EV mobility ecosystem in India -- from the country's largest fully-electric rise hailing service to the largest network of EV charging super hubs," says Jaggi.
Tata Motors launched the XPRES brand in July 2021, exclusively for fleet customers and XPRES-T EV is the first vehicle under the brand. The XPRES-T electric sedan comes with 2 range options -- 213 km and 165 km (ARAI certified range under test conditions). It has a battery of 21.5 kWk and 16.5 kWh and can be charged from any 15A plug point.
The company says the EV bus comes with zero tailpipe emission, single-speed automatic transmission, dual airbags, and anti-lock braking systems with electronic brakeforce distribution as standard across variants.
“The premium black theme interior, with standard automatic climate control and electric blue accents across its interior and exterior, will give it a differentiated presence from other Tata cars,” the company adds.
Tata Motors holds a commanding market share of 87% (FY22 figures) in the EV space, with over 25,000 Tata EVs on the road to date in the personal and fleet segments.
Tata Motors subsidiary Tata Passenger Electric Mobility Ltd, along with Ford India Private Limited, has signed a memorandum of understanding (MOU) with the government of Gujarat, paving the way for potentially acquiring Ford India’s sprawling, state-of-the-art facility in Sanand. The acquisition will help Tata Motors accelerate the enhancement of its passenger and electric vehicle manufacturing capacity.
During the Jan-March quarter, Tata Motors was able to narrow its losses to ₹1,033 crore as compared with a ₹7,605 crore loss during the same period last year and ₹1,516.14 crore loss during the Oct-Dec quarter of FY22. Tata Motors' revenue also fell 11% to ₹78,439 crore during the said quarter versus ₹88,627.90 crore during a year-ago period.
Tata Motors Ltd stock has been up 0.34% to ₹433.30 today. Amid weak market sentiments, the stock has fallen 3.01% to ₹433.35 in the past 5 days and 12.93% in the year-to-date period. As per the current share price, the company's m-cap stands at ₹1,42,315.25 crore.