New Delhi, India (Urban Transport News): Tata Motors has incorporated a new wholly-owned subsidiary"TML Smart City Mobility Solutions Ltd (TSCMSL)" for urban mass mobility business with a "special focus" on the electric vehicles (EV) segment, which is seeing a great deal of interest from the government as well as vehicle manufacturers.
The new subsidiary will "manufacture, design, develop, automotive vehicles including but not limited to all kinds of vehicles including electric, diesel, CNG, hybrid, new energy vehicles (including hydrogen fuel cell) or vehicles propelled or assisted by means of other sources or energy and/or fuel," said Tata Motors in a regulatory filing.
"The new subsidiary TSCMSL has been incorporated with an initial capital of Rs 5 crore. TSCMSL intends to bring specific focus to EV segment as a service offering across its portfolio of commercial vehicles," added in the statement.
In addition to existing state transport units and government fleets, TSCMSL will also cater to all business opportunities across passenger mobility applications, it has been said.
Tata Motors already has around 650 EV buses plying across various cities in India with a cumulative coverage of more than 35 million km and has operationalised over 250 EV buses in FY22. The company is pushing for electric cars in a big way. Tata Motors' Nexon EV is one of the best-selling eclectic cars in the country.