Tata Power And Zoomcar Join Hands To Offer Seamless EV Charging Infra Solutions

Tata Power EV Charging Solutions Ltd (TPEVCSL), a Tata Power Company, and Zoomcar, a leading marketplace for car sharing, on Thursday announced the signing of an MoU to promote electric vehicle (EV) adoption in India.

The MoU was signed in Mumbai in the presence of Mr Ashish Khanna, CEO, of Tata Power Renewable Energy Limited; Mr. Virendra Goyal, Head of Business Development, EV Charging, Tata Power; and Mr. Greg Moran, CEO and Co-Founder, Zoomcar. Tata Power EV Charging Solutions Limited is a wholly-owned subsidiary of Tata Power Renewable Energy Limited.

According to the company, the agreement intends to promote Tata Power's EZ Charge points on the Zoomcar platform, as well as to serve present and aspiring EV owners, as well as Zoomcar's existing consumers.

Following the announcement, the shares of Tata Power hit a new 52-week high at Rs 252.75 per share on BSE. Shares currently trading 2.95% higher at Rs 252.65 apiece on BSE. It jumps 8.13% in 1 week, and 9.54% in 1 year, respectively.

Tata Power has an extensive EV charging infrastructure: EZ Charge includes over 50,000 home chargers, 4370+ public and semi-public charging points, and 250 bus-charging points across 350 cities including multiple highways. The company aims to establish 25,000 charging points in the next five years, bolstering the national EV ecosystem and driving sustainable mobility growth. Zoomcar, has over 20,000 cars on its technology-driven platform across India, Indonesia, and Egypt, the company said.
"This collaboration with Zoomcar is another milestone in our journey to speed up the green mobility transition in the country. As India's leading EV charging infrastructure provider, we are constantly collaborating with industry partners such as Zoomcar to develop a technologically advanced and robust EV ecosystem in the country." said Dr. Praveer Sinha, CEO & MD, Tata Power.

Mr. Greg Moran, CEO & Co Founder, Zoomcar stated, "We are very excited to embark on this journey with Tata Power, leveraging their position as a leader in the field of EV charging. At Zoomcar, we strive to be at the forefront of creating innovative solutions that can help shape the mobility industry. Our car-sharing platform is perfectly suited for electric vehicles and we expect to grow 50 % of our platform by 2025. This mutual partnership is poised to create a comprehensive ecosystem that fulfils the evolving needs of EV enthusiasts"

Tata Power provides end-to-end EV (electric vehicle) charging infrastructure solutions for the growing EV ecosystem in India, covering public and captive charging points. The company's customized solutions include software subscription services, a mobile app, charger hardware, a power supply, and power backend infrastructure. Tata Power EZ Charge Mobile App facilitates locating EV charging stations in its EV charging network, the company said.

It added, Recently, in July 2023, the company, in its efforts to make the EV charging experience seamless, launched an RFID card that allows EV users to initiate charging by tapping the EZ CHARGE RFID card on the EZ charger at any location in the country.