The partnership aims to develop the EV ecosystem by deploying solar power technologies at TVS Motor's select locations.

 

India: TVS Motor Company, India's third-largest two-wheeler manufacturer, and Tata Power have signed a memorandum of understanding to expand the electric vehicle charging infrastructure (EVCI) across the country. The implementation of EVCIs will facilitate the adoption of electric mobility in the country by creating a large dedicated electric two-wheeler charging infrastructure. The strategic partnership will establish a regular AC charging network and DC fast-charging network for enhanced charging access to two-wheelers.

 

The agreement between the two firms is in line with the commitment to expand the presence of TVS iQube Electric two wheeler in the next few months in over 25 cities. The expansion of EV ecosystem across the country will help customers of TVS iQube to gain access to widespread charging networks by Tata Power by leveraging mobile apps such as TVS Motor customer connect app, and Tata Power EZ Charge app anywhere across India. Currently, TVS iQube is available in major cities like Delhi, Mumbai, Chennai, Hyderabad, Coimbatore, Kochi, Surat, Vizag, Jaipur, and Ahmedabad.

 

Tata Power has an EV charging network of over 5,000 home chargers and 700 public chargers spanned across 120 cities. The company's ecosystem comprises different segments like public charging, captive charging, workplace charging, and deploys both AC and DC chargers. Besides, Tata Power has been expanding the clean energy infrastructure by executing multiple large solar solutions like installing the solar vertical farm at Dell Technologies, creating the world's largest solar rooftop at Beas, and so on. 

 

Addressing the partnership, the TVS Motor's Joint Managing Director commented, "Our partnership will substantially enhance customer convenience through world-class fast-charging solutions. Fitting to TVS Motor's vision of electrification, we envisage a wide and reliable charging infrastructure for two- and three-wheeler EV customers across India, powered by renewable sources of energy, such as solar."

 

On the strategic partnership between Tata Power and TVS motors, TechSci Research's Director said, "The EV industry is picking pace with the establishment of new manufacturing hubs and favorable federal subsidies and policy reforms such as FAME-II and PLI scheme to boost electric mobility. However, India needs to improve the additional support infrastructure to drive the adoption of electric vehicles. Hence, key players in electric vehicle manufacturing are forming strategic alliances to build efficient EV infrastructure for promoting faster adoption."

According to TechSci research report “India Electric Vehicle Market By Vehicle (Passenger Cars, Commercial Vehicles, Two- and Three-wheelers), By Vehicle Class (Mid-priced & Luxury), By Propulsion (BEV, PHEV & FCEV), By EV Sales (OEMs/Models), By End User (Shared mobility providers, Government organizations, Personal Users, Others), By Company, By Region, Forecast & Opportunities, FY2027”, India electric vehicle market is anticipated to register a significant growth during the forecast period. Rapid technological advancements and favorable government policies are likely to propel the growth of India electric vehicle market. Besides, expanding electric vehicle charging infrastructure and rising environmental awareness are boosting the growth of India electric vehicle market.

According to another TechSci research report “India Electric Vehicle Charging Infrastructure Market By Type of Charging (Direct Charging and Battery Swapping), By Location (Highways, Cities and Others), By Application (Commercial, Residential), By Charger Type (Fast Charger, Slow Charger), By Mode of Charging (Plug-in charging system, Wireless charging system), By Company and By Geography, Forecast & Opportunities, FY2027”, India electric vehicle charging infrastructure market is estimated to grow at a robust CAGR in the next five years. The growth can be attributed to the rising number of government initiatives favoring expansion of EV charging stations as well as increased adoption of EV vehicles across the country.