Wednesday, May 25, 2022
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Tata Motors Decides to invest Rs. 15,000 crore in the EV segment for the next 5 years

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It is great news that Tata Motors is planning to invest Rs. 15,000 crore in the category of EV sector in the next five years in the upcoming five years. We can say that the company has been a leader in the latest emerging EV segment with many of the offerings like Nexon. The President for Passenger Vehicles Business of Tata Motors Shailesh Chandra confirmed the planning to improve around 10 more latest offerings in the segment.

Shailesh Chandra also said,”  as far as future is concerned, in next five we will invest Rs. 15,000 crore in electrification. We are going to work on nearly 10 products with different kinds of body  styles, price, driving range options.”

Tata Motors to invest Rs 15,000 crore in electric vehicles, 10 new products  to be developed

Tata Motors: Plan

The company also has been generated  USD 1 billion in funding from the private equity with the major TPG in the division of RV and also giving value to the business at USD 9.1 billion.

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Chandra also had spoken that the event has set to deliver a batch of 101 EVs to residents of the town like a part of the  Aurangabad Mission for Green Mobility(AMGM) by the local groups of people.

He also confirmed that an order of 250 RVs also has been placed under the AMGM. He also releases that there is also a need to boost the development of the EV ecosystem with the charging facilities and also has been affirmed the commitments of the company to develop the thing.

It also has a network of closely 400 charging stations in Maharashtra among which  15-20 are also in Aurangabad and this represents the needs to be explained. It means the official also shared that the ownership profile on EVs is also has been passing many changes with more of the buyers with the option of the electric variant like the first car.

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After launching the car, the time while people used this like their first car had been only 20-25 percent. Now it has been increased to 65 percent. Tata Motors has been sold 22,000 EVs till this year and it seems that if the impact on the other vehicles were set to be assessed in terms of the carbon dioxide emissions and it is also now akin to plat the 1.5 lakh tree as he told.

On speaking about the initi8ative by the citizens of Aurangabad in the opting of EVs, Chandra also said that their efforts also have been needing to be emulated along with the country and also termed like a huge confidence booster for the ecosystem.

Tata Motors to invest Rs 15,000 cr in EVs over 5 yrs - Rediff.com Business

It is the time of explaining the trip of the movement, AMGM  as the member of Ulhas  Gawli sad,” The city has faced a lot of pollution and certain limitations we imposed by the  National  Green Tribunal. They also decide to work on it and they also only convinced people for the car but also have been worked simultaneously along with the local administration for setting up the ecosystem.

The Aurangabad Municipal; Corporation Astik Kumar Pandey said,” We are working on setting up an ecosystem for electric vehicles and have a plan of setting up 200 charging stations the land also will be given by them. They also have been floated tenders to buy 60 electric buses and also established the charging points and also will be mandatory in the city from April 1 as the latest residential projects.

A big thanks for the source.

Read: Ford has set to double the production of F-150 Lightning in a year

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