Tata Motors incorporates subsidiary for Smart City Mobility Solutions


by 5paisa Research Team Last Updated: Dec 10, 2022 - 03:29 pm 28.1k Views
Listen icon

Tata Motors incorporated a fully owned subsidiary “TML Smart City Mobility Solutions Limited”. The core idea of floating this company is to undertake urban mass mobility business. This will be conducted using its “Own, Operate, Maintain (OOM) model. Tata Motors will use the launch TML Smart City Mobility Solutions Limited to bring specific and calibrated focus to its Electric Vehicles (EV) segment.

Tata Motors already has a EV unit but that is focused largely on the passenger car segment. Now, the ideas is that it also aggressively offers EV solutions as a service offering across its portfolio of commercial vehicles.

One big segment that Tata Motors will now cater to will be the existing State Transport Units (STUs) and government fleets. But that will be the low hanging fruit for Tata Motors. It will look at a more comprehensive picture. 

To begin with,  TML Smart City Mobility Solutions Limited will cater to all business opportunities across passenger mobility applications. Tata Motors already has more than 650 EV buses plying on roads across various cities in India.

This buses have already provided a cumulative coverage of more than 35 million kms. Out of these EVs, the Tata Motors group has actually operationalized more than 250 EV buses during the fiscal year FY22.
 

Start Investing in 5 mins*

Get Benefits worth 5100* | Rs. 20 Flat Per Order | 0% Brokerage

 


According to a press release issued by the company, its recently incorporated 100% subsidiary, TML Smart City Mobility Solutions Ltd is seeing a great deal of interest from the government as well as vehicle manufacturers.

The government has been quite aggressive about pushing most of the government owned fleets of cars and buses to the EV module soon to make it greener and also set benchmarks for the private sector to follow.

What exactly would TML Smart City Mobility Solutions Limited do? The specialized company plans to manufacture, design, develop, automotive vehicles. This will broadly include electric, diesel, CNG, hybrid, new energy vehicles (including hydrogen fuel cell) etc.

It will also include vehicles that are propelled or assisted by means of other sources or energy or fuel. In short, it will cover any vehicle that reduces the carbon footprint.

TML Smart City Mobility Solutions Limited has been incorporated with an initial capital of Rs5 crore. It needs no reiteration that Tata Motors is already pushing for electric cars in a big way. For instance, its Nexon EV is one of the best-selling eclectic cars in the country and has over 80% market share among EVs in India. According to FADA (Federation of Automobile Dealership Associations of India), the EV space collectively grew 257% in FY22.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Paytm Share Price Surge 5% After Discontinuing Inter Company Pacts with PPBL

At 2.25 pm today, shares of One97 Communications the parent company of the renowned Paytm brand surged by 5% reaching ₹423.45.

NTPC Enters JV Agreement with Maharashtra State Power Generation

NTPC Green Energy Limited, a subsidiary of NTPC Limited, has partnered with Maharashtra State Power Generation Company Limited (MAHAGENCO) to lead the development of renewable energy parks in Maharashtra.

Happiest Minds Partners with Secureworks for Advanced XDR Services

Happiest Minds Technologies has recently announced its collaboration with the Secureworks Global MSSP Partner program to address the escalating need for Extended Detection and Response (XDR) services worldwide.