Strategic Partnership: This Tata group company Collaborates with Zoomcar to Provide Integrated EV Charging Infrastructure Solutions

Company plans to build 1 lakh EV charging stations by 2025

Recently, a Memorandum of Understanding (MoU) was signed by Zoomcar, a well-known car-sharing marketplace, and Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power group company, in order to encourage the widespread adoption of electric vehicles and provide EV users across the country with a smooth, user-friendly charging experience.

This partnership will benefit existing Zoomcar customers as well as current and prospective EV owners by promoting Tata Power's EZ Charge points on the Zoomcar platform. These clients will have simple access to helpful information on Tata Power's wide network of EZ Charge points all throughout the country, which will ease the EV charging procedure and eliminate the difficulties frequently connected with using the charging infrastructure. As a result, more people will put their electric vehicles on Zoomcar's platform, and more potential buyers will choose them.

Tata Power has a significant EV charging network: Over 50,000 home chargers, 4,370+ public and semi-public charging stations, and 250 bus-charging stations are part of the EZ Charge network, which is spread out over 350 cities and many interstates. In the next five years, the company wants to install 25,000 charging stations, strengthening the national EV ecosystem and fostering the expansion of sustainable mobility. Over 20,000 vehicles are available through Zoomcar's technology-driven platform in India, Indonesia, and Egypt.

The scrip opened today at Rs 249.60 and reached the day's high and low of Rs 251.65 and Rs 243.65, respectively. Its 52-week high stood at Rs 252.75, whereas its 52-week low was Rs 182.45. The current market cap of the company is Rs 78,381.68 crore. Promoters are holding around 46.86 per cent stake in the company whereas the Institutional and non-institutional holdings are 24.66 per cent and 28.48 per cent, respectively.

The primary field of business for Tata Power Company Ltd. is the production, transmission, and distribution of power. It seeks to generate all of the electricity it needs from renewable resources. Additionally, it produces solar roofing and anticipates constructing 1 lakh EV charging stations by 2025.