Tata Power share price hits 52-week high on partnership with TVS Motor

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The partnership aims to create a regular AC charging network and a DC fast-charging network for electric two-wheelers.

Representative image

Representative image

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Tata Power Company share price touched a 52-week high of Rs 179.65, rising 6.5 percent intraday on October 5 on the back of forming partnership with TVS Motor Company for the implementation of electric vehicle charging infrastructure (EVCI).

As part of the MoU, the two companies agreed to drive the comprehensive implementation of EVCI across India and deploy solar power technologies at TVS Motor locations, as per the company’s press release.

The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India.

This will also give the customers of TVS iQube Electric access to the widespread charging network by Tata Power through the TVS Motor customer connect app and Tata Power EZ Charge app across India.

The partnership aims to create a regular AC charging network and a DC fast-charging network for electric two-wheelers.

This partnership will further help drive EV adoption in the country among two-wheeler customers who aspire to take a step in going electric.

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“We are happy to join hands with TVS Motor, one of the leading two-wheeler manufacturers globally, to become their EV charging partner. Through this collaboration, we will further leverage our expertise to enhance synergy between sustainable mobility and renewable energy integration resulting in the creation of robust EV charging eco-system across India,” said Dr. Praveer Sinha, CEO & Managing Director, Tata Power.

At 11:52 hrs Tata Power Company was quoting at Rs 179.65, up Rs 11, or 6.52 percent and TVS Motor Company was quoting at Rs 562.15, up Rs 1.30, or 0.23 percent on the BSE.