Tata Motors gains on MoU for supplying 3,500 sedan EVs to BluSmart Mobility

Tata Motors rose 1.12% to Rs 486.35 after the company today announced the signing of an MOU with BluSmart Mobility for expanding their all-electric fleet multi-fold across Delhi NCR,

As a part of this MOU, Tata Motors will deliver 3,500 XPRES T EVs to BluSmart Mobility. The XPRES -T EV was launched by the Tata Group company in September 2021.

This contract marks a key milestone in the electric fleet market. as more customers now prefer to travel in environment-friendly vehicles, the auto maker said.

BluSmart Mobility offers all-electric ride-hailing service across Delhi NCR. The challenger brand in mobility has completed more than 700,000 rides till date covering over 22 million clean KMs on electric vehicles. It has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR.

Ramesh Dorairajan, head - electric vehicles (commercial), Tata Motors, With the XPRES- T EV, Tata Motors has developed an electric sedan exclusively for the fleet customers. We are delighted to partner with BluSmart Mobility and we are thankful to them for their continued efforts in growing the electric fleet in Delhi-NCR.

We recently crossed a key milestone of 10,000 EVs on road, which is a strong testament to how our innovative electric vehicles are resonating well with customers. This order will further strengthen our roadmap of making EVs mainstream.

Tata Motors is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

The auto major's consolidated net loss contracted to Rs 4,450.92 crore in Q1 FY22 as compared to a net loss of Rs 8,437.99 crore in Q1 FY21. Total revenue from operations soared 107.63% YoY to Rs 66,406.45 crore in Q1 FY22.

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