Tata Motors and Vertelo sign MoU to offer attractive leasing solutions for electric commercial vehicles

Tata Motors, India’s largest commercial vehicle manufacturer, and Vertelo, a bespoke electric mobility solutions provider, announced the signing of a Memorandum of Understanding (MoU) between the two companies to make electric commercial vehicles more accessible for customers across the country. Through this partnership, Vertelo will provide customised leasing solutions, helping fleet owners transition smoothly to sustainable mobility. The solutions will be applicable to the entire Tata Motors electric commercial vehicle portfolio.

Commenting at the announcement, Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors Commercial Vehicles, said, “Tata Motors is committed to democratising electric mobility, ensuring that accessibility to sustainable transportation solutions is extended to all customers. This partnership with Vertelo marks a significant milestone in that journey, enabling broader access to our advanced electric commercial vehicles. Through such collaborations, we are not just accelerating the adoption of sustainable transport solutions but also contributing to the development of a robust EV ecosystem in India.”

Speaking about the collaboration, Sandeep Gambhir, CEO, Vertelo, stated that “We are delighted to join hands with Tata Motors in accelerating EV adoption across a wide range of electric commercial vehicles including Buses, Trucks and Mini-trucks. This partnership will facilitate bespoke leasing solutions and facilitate creation of a sustainable ecosystem that makes electric mobility the natural choice for commercial fleet operators. This collaboration will enable Tata Motors and Vertelo to accelerate adoption of electric commercial vehicles and create eco-friendly mobility solutions at scale.”

Tata Motors offers Tata Ace EV in last-mile mobility and Tata Ultra and Tata Starbus range in mass-mobility solutions. The company has also showcased Tata Prima E.55S, Tata Ultra E.12, Tata Magna EV bus, Tata Ultra EV 9 bus, Tata Intercity EV 2.0 bus, Tata Ace Pro EV and Tata Intra EV, catering to wide applications and customer requirements across product lines. With a strong focus on innovation and sustainability, Tata Motors continues to expand its electric CV portfolio across Trucks, Buses, and Small Commercial Vehicles. Supported by a growing charging infrastructure, a robust service network and Fleet Edge—its connected platform for optimising fleet uptime and costs, Tata Motors leads India’s sustainable transportation revolution.

Vertelo is a fleet electrification platform that aims at providing end-to-end solutions to operators and corporates, helping them accelerate the transition to electric vehicles. The company aims at building a robust EV ecosystem to help this transition, offering its customers bespoke solutions including leasing and financing, charging infrastructure and energy solutions, fleet management services, and end of vehicle life management. Vertelo has been established and managed by Macquarie Asset Management and has received anchor investment from the Green Climate Fund which has committed to invest up to $US200 million.

Part of the USD 165 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 44 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups,  trucks, and buses, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.

Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by developing a tailored product strategy, leveraging the synergy between Group companies and playing an active role in liaising with the Government of India in developing the policy framework.

With operations in India, UK, South Korea, Thailand and Indonesia, Tata Motors markets its vehicles in Africa, the Middle East, Latin America, Southeast Asia, and the SAARC countries. As of March 31, 2024, Tata Motors’ operations include 90 consolidated subsidiaries, two joint operations, five joint ventures, and numerous equity-accounted associates, including their subsidiaries, over which the company exercises significant influence.