- Tata Motors has formed a wholly-owned EV subsidiary named Tata Passenger Electric Mobility (TPEML)
- TPEML is specially for design & development of electric vehicles for the future
Tata Motors has gone one step ahead for the cleaner and greener future. For it’s EV business, company has formed a wholly-owned subsidiary Tata Passenger Electric Mobility (TPEML). With initial investment of Rs 700 crore, TPEML will focus only at design & development of electric vehicles.
Tata Passenger Electric Mobility (TPEML)
This newly formed company will handle all activities regarding electric vehicles. Electric vehicles manufacturing, development, fabrication, sales and charging infrastructure all the things will work under TPEML. The ministry of Corporate issued TPEML incorporation on 21st December 2021. Tata Motors will hold 100 percent stake in TPEML.
In electric vehicles segment Nexon EV is the best selling product from Tata Motors. After launching Nexon EV, company introduced Tigor EV too. Tata Motors announced to have 10 electric cars in its portfolio by 2026.
Company has already announced that TPG Rise Climate will invest Rs 7,500 crore in its electric vehicle business which is now TPEML.