Tata Motors incorporates new division to develop electric vehicles

Tata Motors Limited has incorporated Tata Passenger Electric Mobility Limited (TPEML) to manufacture all services related to electric vehicles. The Ministry of Corporate Affairs, Government of India issued the Certificate of Incorporation on December 21, 2021.

Tata Motors announced that TPEML has been incorporated to manufacture, design, develop all kinds of services related to electric vehicles/electric mobility, hybrid electric vehicles of all kinds. This also includes all descriptions for carrying passengers or other personnel, whether propelled, moved, drawn or assisted by means of electricity, battery, solar energy.

Additionally, it will also cover the production of any other power devices including engines, motors, parts, components, accessories, and related equipment thereof, as well as activities required for establishing and undertaking the assembly, manufacture, fabrication, sales, aftersales services, marketing, promoting and/or servicing facilities.

The new subsidiary has been formed with an initial capital of TPEML has been incorporated with an initial capital of ₹700 crore with an authorized capital of 70,00,00,000 equity shares of ₹10/- each aggregating to ₹700,00,00,000/-. The entire paid-up share capital will be held by Tata Motors.

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