This automobile stock zoomed 4 per cent on its collaboration with Amazon; do you own it?
Strategic engagement will permit the 2 corporations to collaborate on the electric-powered two-wheeler segment and three-wheeler segment, helping to further drive electric mobility in India.
TVS Motor Company and Amazon India today announced a strategic engagement to strengthen electric mobility, electric infrastructure, and connected services. In this collaboration, a fleet of electrical two-wheelers and three-wheelers from TVS Motor will be deployed for Amazon’s last-mile deliveries. Both companies will pilot TVS Motor’s electric vehicle solutions through delivery associates and partner bases across India.
The partnership with TVS Motor Company is a step forward in Amazon India's advancement in electric mobility and towards achieving the net zero carbon footprint goals from now until 2040.
TVS Motors will introduce a new set of portfolios of electric two-wheelers and three-wheelers over eight quarters in the domestic and international markets. Further, it will expand and strengthen the company’s focus on presence across all major cities, charging solutions, and alternate ownership models in India.
TVS Motor Company Ltd (TVSM) has a market capital of approximately Rs 55,000 crore, mainly engaged in manufacturing two-wheelers and their accessories; it currently manufactures a wide range of two-wheelers and three-wheelers. Today, the stock price of TVSM was up by 4.20 per cent or 46.70 points to Rs 1,159.45. The company’s 52-week high was Rs 1,176.90 and the 52-week low is Rs 513.
Investors must keep an eye on this stock.