Thursday, December 23, 2021
By Kamal Swami
TPEML To Take Care Of TATA Motors EVs
Domestic carmaker Tata Motors has constituted a new subsidiary named Tata Passenger Electric Mobility Limited (TPEML) to look after the production of electric vehicles. In a regulatory filing filed by Tata Motors on Wednesday, it has announced TPEML as a wholly-owned subsidiary for its electric vehicles segment. According to the sources of Tata Motors, it has invested the sum of Rs 700 crore in constituting the TPEML. According to the sources of the company, the Ministry of Corporate Affairs has issued the certificate of incorporation to the new subsidiary.
In the regulatory filing filed by Tata Motors, it is said, that the TPEML will be responsible for looking after all the services related to electric vehicles. This includes electric mobility, hybrid electric vehicles of all kinds, description for carrying passengers and other persons, batteries, engines, parts of motors, accessories, and different activities associated with the use and development of electric vehicles.
Tata Motors is the second company in the country to initiate a separate subsidiary for its electric vehicles, after Mahindra Electric which is owned by another home-grown car maker Mahindra & Mahindra. It would be interesting to know that the luxury car manufacturers like Mercedes-Benz and BMW also have separate divisions for their electric vehicles segment.
In India, Tata Motors is the largest manufacturer of electric cars, compared to other electric car manufacturers. The compact SUV Nexon EV from Tata Motors is the best selling electric vehicle in the country. Besides this, the compact sedan Tigor from the carmaker is also in demand. The company is also working on developing new electric cars for the Indian car market which will be launched in the coming years. Keeping all these circumstances in concern, it can be said that initiating a new subsidiary for the electric vehicles segment by the company is an appreciating step.
