EV revolution has arrived in India earlier than expected, and petrol price hikes along with declining environmental conditions have contributed much more to promote electrifications in India.
TVS motors have their iQube electric scooter in the market which is getting a good response from the customers, however, it was not as great as expected but they decided not to be on the backfoot and exposed their bold future plans regarding the electric vehicles market. In their most recent news they raised funding of 1000 crores to push their electric vehicle portfolio also TVS decided to launch at least six 2 and 3 electric vehicles till 2024, which clearly shows their intentions and seriousness regarding electric vehicles.
Now talking about TATA power we don’t need to express their contribution to the electric vehicle industry, it seems that if India will ever become EV friendly ever it can only be possible due to the contribution and innovation of the TATA universe. TATAs’ are into everything from quality electric vehicles to excellent EV owner support, they are doing everything required for electric vehicles.
TVS motor and TATA power's partnership:
TATA power and TVS motors signed an MoU to build sustainable EV infrastructure in India.
MoU is the memorandum of understanding, as a part of two companies strategically partner together with certain terms. It's not a legal binding but an MoU contain certain reputation and degree of seriousness
On the 5th of October 2021, Tata power published a press release on their official website https://www.tatapower.com/ with the headline “TVS Motor Company signs MoU with Tata Power to collaborate on electric two-wheeler charging eco-system in India.”
This was a great initiative taken by both the companies and this decision will definitely take the development of the Indian EV eco-system a long way. There were many positive, sustainable and impactful statements delivered by the companies in their article but don’t worry you don’t need to go through the whole press release, to save your time we bring you the excerpt of that particular article in an understandable and statistical way. Here you go.
This partnership is solely focused on developing electric two-wheeler charging infrastructure not only in volumes but also making it sustainable.
With this initiative, the Tata universe is working solely for the electric 4-wheeler segment despite only 0.28% of car penetration in India. But with this EV drive in India, Tata has tried to target and cater to Indian electric two-wheeler users. This partnership will prove to be healthy for TVS iQube owners and they will be early accessing Tata power’s two-wheeler charging station with the Tata’s EZ charging app and TVS motor’s customer connect app.
With this partnership, both companies have got the opportunity to work on sustainable charging solutions for electric vehicles. In their article, Tata power mentioned using solar energy. However, the TVS motors will get the priority to use the sustainable charging infra, and Tata power will start their journey towards sustainability with the TVS motors locations.
While expanding charging infra the TVS gave their commitment to increase their presence in the MoU. The company will be dedicated to reaching more than 22 cities of India with their electric scooter “iQube”
In between all the promises and goals of MoU the Tata Power also discussed their major achievements towards sustainable energy distribution. They mentioned, we have our 700 charging stations network spread over 120 cities of India, Tata Power owns the achievement of building the largest rooftop solar power solution (16MW) at one place at Radhasoami Satsang Beas in Amritsar, one more achievement of making the world’s largest solar-powered cricket stadium.
Both the parties look super excited about this project and stated the following;
Joint Managing director of TVS motor, Mr. Sudarshan Venu said, “TVS Motor Company has always been at the forefront of delivering green vehicles to our customers. This collaboration with Tata Power marks yet another significant milestone towards enabling a greener future for the country. Our partnership will substantially enhance customer convenience through world-class fast-charging solutions. TVS Motor is extremely excited and proud to be the pioneering partner with Tata Power, which is leading the way in creating a wide and sustainable charging infrastructure in the country. Fitting to TVS Motor’s vision of electrification, we envisage a wide and reliable charging infrastructure for two and three-wheeler EV customers across India, powered by renewable sources of energy such as solar.”
CEO and MD of Tata Power, Mr. Praveer Sinha said, “We are happy to join hands with TVS Motor, one of the leading two-wheeler manufacturers globally, to become their EV charging partner. Through this collaboration, we will further leverage our expertise to enhance synergy between sustainable mobility and renewable energy integration resulting in the creation of robust EV charging eco-system across India.”
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