Tata Motors Inks Supply Pact For 25K Electric Vehicles For Uber's India Fleet Network

  • Ride-hailing platform Uber Technologies Inc UBER inked a memorandum of understanding (MoU) with Tata Motors to add 25,000 electric cars to its fleet to electrify its mobility services in India.
  • The Indian automaker will start delivering its XPRES-T EVs to Uber fleet partners in phases starting from February.
  • It will allow the firm to provide emission-less rides across the major Indian cities, including Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad.
  • Uber aims to provide emission-less mobility services by 2040.
  • The collaboration represents the largest EV partnership yet between an automaker and a ridesharing platform in the country.
  • In July 2021, Tata Motors launched the 'XPRES' brand exclusively for fleet customers, and the XPRES-T EV is the first vehicle under this brand.
  • The new XPRES-T electric sedan has two range options - 315 km and 277 km.
  • It packs a high-energy density battery of 26 kWh and 25.5 kWh. It can be charged from 0-80% in 59 and 110 minutes, respectively, using fast charging or usually charged from any 15 A plug point.
  • It has zero tail-pipe emission, single-speed automatic transmission, dual airbags, and ABS with EBD as standard across variants.
  • Tata Motors has rolled out over 50,000 Tata EVs in the personal and fleet segment.
  • Price Action: UBER shares are down 1.90% at $34.12 during the premarket session on the last check Tuesday.
  • Benzinga now provides actionable financial news and trading ideas for the Indian financial markets on in.benzinga.com.

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