Tata Motors MoU with Uber- Bringing New Era of EVs

Modern life cannot function without transportation, but the typical combustion engine is bad for the environment. Due to their high pollution output, petrol and diesel vehicles are being phased out in favour of all-electric ones. Fully electric cars (EVs) are considerably better for the environment because they don’t produce any exhaust emissions. Recognising the significance of eco-friendly vehicle changes, Tata Motors signed MoU with Uber to bring a new era of Electric Vehicles.

Tata Motors has taken an impressive step forward in the electric vehicle (EV) industry, having already introduced more than 50,000 EVs for both personal and fleet use. 

To take it further, Tata Motors has partnered with Uber to introduce 25,000 XPRES-T electric vehicles into Uber’s premium category service in India. This is the biggest collaboration to date between an automaker (Tata Motors) and a ridesharing platform (Uber) in the country to accelerate the transition to a cleaner, greener future on the Uber platform, setting an excellent example for others to follow.

The XPRES-T EV is the first vehicle launched under Tata’s XPRES brand, which is exclusively designed for fleet customers. The cars will be rolled out across Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad in a phased manner starting this month.

Features of the New EVs

The new XPRES-T electric sedan has two range options of 315 km and 277 km, packing a high-energy battery with a density of 26 kWh and 25.5 kWh, respectively. The vehicle can be charged from 0-80% in just 59 minutes and 110 minutes, respectively, using fast charging or can also be charged normally from any 15 A plug point. It has zero tailpipe emissions, a single-speed automatic transmission, dual airbags, and ABS with EBD ( Electronic Brakeforce Distribution) as standard across all variants.

The XPRES-T EV is a highly appealing option for both customers and operators alike. With its advanced safety features, whisper-quiet ride, and premium in-cabin experience, passengers are sure to enjoy a truly relaxing journey. The XPRES-T EV will provide a unique and differentiated presence, featuring premium interiors with automatic climate control and stylish electric blue accents both inside and out.

Meanwhile, fleet partners can take advantage of the fast charging solution, excellent driving comfort, and exceptional cost-effectiveness of the EV, making it an attractive business opportunity. Whether you’re a passenger or operator, the XPRES-T EV offers the best of both worlds – safety, comfort, and cost-effectiveness.

The President of Uber India and South Asia, Prabhjeet Singh, said “it will supercharge the transition to zero emissions on the Uber platform as we work towards building a sustainable future. We are committed to doing our part to bring down the barriers to going electric by working with industry partners that are leading the change.”

Introducing the XPRES-T EVs in Uber’s premium service will help promote the adoption of electric vehicles in India and contribute to a cleaner, greener future for all. And we will definitely see the impact of this alliance in the share market with the change in the share prices of Tata Motors as well as Uber. 

If you want to take advantage of these fluctuations and invest in their shares, you can check out India’s first commission-free trading platform– Shoonya, which offers zero brokerage, zero clearing charges, zero upfront charges and zero hidden charges.

Sources: moneycontrol.com

________________________________________________________________
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.