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Tata signs agreement with HPCL for charging station

Utkarsh Classes 28-03-2024
Tata signs agreement with HPCL for charging station Transport 4 min read

TPEM and HPCL have signed a memorandum of understanding (MoU) to set up electric vehicle (EV) charging stations across the country. This agreement has been signed with Tata Passenger Electric Mobility Limited (TPEM) and Hindustan Petroleum Corporation Limited (HPCL) on 27 March 2024.

  • It will help in setting up EV charging stations at their petrol pumps across the country. In the first phase, the target is to install 5,000 chargers at HPCL pumps by December this year.

HPCL's 21,500 petrol pumps in India:

  • There are around 21,500 HPCL petrol pumps in India. This public sector undertaking (PSU) will collect information on charger usage to improve customer experience. TPEM will help select charger locations based on driving insights from over 1.2 lakh Tata EVs on the roads.

Tata has 68% participation in making electric vehicles:

  • Tata Passenger Electric Mobility Limited has 68% market share in India's growing electric car market.
  • TPEM has four models in its portfolio-
    • Punch EV
    • Tiago EV
    • Tigor EV
    • Nexon EV.
  • Currently the majority of EV charging happens at the customer's residence or office location, but availability of charging points at public places is important to increase the EV adoption rate. Then the main factor is to pay for charging at these locations.
  • The two companies are also considering introducing a convenient payment system through co-branded RFID cards. This will make the charging experience hassle-free.

HPCL installs 3,050 EV charging stations:

  • HPCL has installed 3,050 EV charging stations so far. While Tata Motors recently inaugurated its first EV-only showroom in Gurugram.
  • HPCL has installed a total of 3,050 EV charging stations, including battery swapping stations across the country.
  • Through this alliance, HPCL will enable strategic expansion in EV charging infrastructure at locations with high charging demand by leveraging Tata Motors' vehicle base.
  • HPCL Chief General Manager (Retail Strategy and Business Development): Debashish Chakraborty

Main points of the agreement:

  • TPEM has signed an MoU with HPCL to set up 5,000 electric vehicle charging stations across India.
  • The collaboration will leverage HPCL's extensive fuel station network and TPEM insights from over 1.2 lakh Tata EVs on Indian roads.
  • The agreement between TPEM and HPCL aims to encourage people to adopt electric vehicles in the country.
  • Both the companies are also exploring the possibility of introducing a convenient payment system through co-branded RFID cards.

About Tata Motors:

  • Tata Motors, a renowned global automotive manufacturer, excels in producing cars, trucks, buses, and electric vehicles. The company maintains a robust presence in India, the UK, and various other international markets.
  • The auto major has reported a consolidated net profit of Rs 7,025.11 crore in Q3FY24. Which is much higher than Rs 2,957.71 crore in the third quarter of FY 23.
  • Revenue from operations grew 25.07% to Rs 1,09,799.22 crore in the quarter ending December 31, 2023.

FAQ

Answer: Tata Passenger Electric Mobility Limited (TPEM)

Answer: 5,000 electric vehicle charging stations

Answer: Gurugram
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