Recently, Zoomcar, a well-known car-sharing marketplace, and Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power group company, signed a Memorandum of Understanding (MoU) in order to promote the wide adoption of electric automobiles and offer electric vehicle (EV) owners all over the nation a smooth, user-friendly charging experience.
Through the promotion of Tata Power’s EZ Charge stations on the Zoomcar platform, this cooperation will benefit both present and potential EV owners as well as existing Zoomcar consumers. These customers will have easy access to useful information on Tata Power’s extensive nationwide network of EZ Charge points, which will simplify the EV charging process and get rid of the problems usually associated with utilizing the charging infrastructure. More people will list their electric cars on Zoomcar’s platform as a consequence, and more consumers will pick them.
Tata Power has a substantial EV charging infrastructure: The EZ Charge network, which spans 350 cities and several interstates, includes approximately 50,000 home chargers, 4,370+ public and semi-public charging stations, and 250 bus-charging stations. The corporation plans to set up 25,000 charging stations over the next five years in order to support the growth of sustainable transportation and develop the national EV ecosystem. In India, Indonesia, and Egypt, Zoomcar’s technology-driven platform offers access to over 20,000 automobiles.
The stock started trading today at Rs 249.60 and finished at Rs 251.65 and Rs 243.65, respectively, for its day’s high and low. It reached a 52-week high of Rs. 252.75, and a 52-week low of Rs. 182.45. The company’s current market value is Rs 78,381.68 billion. Promoters own around 46.86% of the firm, while institutional and non-institutional investors have stakes of 24.66% and 28.48%, respectively.
The generation, transmission, and distribution of power is Tata Power Company Ltd.’s main line of business. It aims to produce 100% of the necessary electricity from renewable sources. Furthermore, it manufactures solar roofing and plans to build 1 lakh EV charging stations by 2025.