Tata Motors’ shares were in focus on Monday as its subsidiary TML Smart City Mobility Solutions signed an agreement with the Bengaluru Metropolitan Transport Corporation (BMTC) to operate 921 electric buses in the city. At 10:05 am, Tata Motors’ shares were trading 0.82 percent lower from the their previous close at Rs 417.80 on BSE.
Tata Motors subsidiary will supply, operate and maintain 921 units of 12-metre low-floor electric buses for 12 years. The order is a part of the larger tender by Convergence Energy Services Limited, according to the automaker’s exchange filing.
“Tata Starbus Electric is an indigenously developed vehicle with superior design and best-in-class features for sustainable and comfortable commute,” the firm said in a statement.
Until date the firm has supplied more than 730 electric buses across multiple cities in India, which have cumulatively clocked more than 55 million kilometres, with an uptime of over 95 percent, it added.
Following the announcement, G Sathyavathi, IAS, Managing Director, Bengaluru Metropolitan Transport Corporation said, “We are confident that the induction of the zero-emission, eco-friendly buses will benefit all stakeholders and help in curbing air pollution. Tata Motors’ vast experience in the electric mobility domain will certainly assist in providing an uninterrupted, safe and comfortable commute in the city.”
TML Smart City Mobility Solutions’ CEO and MD Asim Kumar Mukhopadhyay also assured that his firm would continue to develop smart, green and energy efficient mass mobility solutions. “We are confident that the electric buses will provide sustainable, safe and comfortable public transportation to the commuters of Bengaluru,” he said.
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