UBER-TATA Deal for 25000 EV

TATA is one of the largest electric vehicle manufacturers in India. The UBER recently signed a mega deal with TATA. According to the deal, TATA will produce 25,000 Electric Vehicles for UBER. This means usage of Electric Vehicles is to increase in the country indirectly. UBER is a transportation company. The usage of EVs in the country has been slow despite government efforts. Manufacturing of EVs is also slow. However, with this deal, the manufacturing and the use of EVs will increase in the country.

Other Companies that signed deals for EV

Several other companies too signed deals with TATA for electric vehicles. However, their numbers were small like 1000s. For instance, EC Wheels signed a deal with TATA for 1000 EVs, Prakriti signed a deal for 2000 EVs, etc.

Background

The demand for EVs started showing a small increase with the launch of the XPRES-T EV brand of TATA. It was launched in 2021 for Fleet customers. Fleet customers are those people who buy in bulk. For instance, UBER is a fleet customer buying 25,000 cars.

Today TATA holds more than 70% of the Indian EV market.

Month: Current Affairs - February, 2023

Category: Economy & Banking Current Affairs