The whole world has recognized the potential of the Indian EV industry. Almost all manufacturers have announced their plans to add electric cars and/or bikes to their portfolio. Seeing the increased sales of electric cars, even luxury car brands have released their EV models for the Indian market. In the four-wheeler category, Tata Motors is the biggest contributor to the Indian EV industry and has launched a complete line-up of electric vehicles ranging from SUVs to sedans to hatchbacks. Most recently, the brand has announced the launch of an EV subsidiary; Tata Passenger Electric Mobility Ltd. (TPEML).
TPEML: What is it?
TPEML is a wholly-owned subsidiary, which will be responsible for the manufacturing and development of all the electric vehicles of Tata Motors. This new EV business arm has an initial capital of INR 700 Crore. The Ministry of Corporate Affairs has issued the certificate of incorporation for this subsidiary on the 21st of December, 2021. Tata Motors said, “TPEML has been incorporated with an authorized capital of 70,00,00,000 equity shares of ₹10/- each aggregating to ₹700,00,00,000/-. The entire paid-up share capital will be held by TML.”
In the regulatory filings, Tata Motors said that with the incorporation of TPEML the brand is looking forward to manufacturing, designing, and developing all kinds of services related to electric vehicles. The portfolio will include all-electric as well as hybrid vehicles aimed at passenger mobility. Not just that, the brand has also described vehicles powered by solar energy. This could mean that the company is looking towards harnessing solar energy to propel vehicles soon.
Future Plans of TATA
Tata was among the first to start manufacturing electric vehicles in India. In recent times, the brand has proved itself as a leading name in the industry. Tata is practically spearheading the EV industry in the Indian market. In October, the company unveiled its plans to invest over $2 Billion in its electric vehicle business over the next five years. The creation of this new arm shows that the brand is readying for its big plans and investments. Currently, the Nexon EV is Tata’s most selling electric car, but the company has plans to release nearly 10 brand-new EVs by the year 2025.
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