Sustainability at its core, Lodha ties-up with Tata Power for EV charging infrastructure across its developments

Lodha Group, India's largest real estate developer*, partners with Tata Power, to provide end-to-end EV charging solutions in all its residential and commercial projects across Mumbai Metropolitan Region (MMR) and Pune. With this deal, Lodha reinforces its commitment towards a zero-carbon future, further encouraging its residents to embark on this path. Prioritising the responsibility for ensuring sustainable practices, Lodha has consistently been on track in implementing its environment friendly targets, and this partnership is yet another step by Lodha to facilitate the global decarbonisation agenda.

Under this partnership, Tata Power will install EV Charging stations at Lodha developments across MMR and Pune. These chargers will be accessible to all Lodha residents and visitors who are EV owners. Installation and charging support will be provided for the electric vehicles along with 24x7 service, maintenance support, remote vehicle charging monitoring & e-payments through the EZ Charge mobile application by Tata Power. This partnership will enable Lodha residents' access uniform and ubiquitous EV charging experience.

Raunika Malhotra, President - Marketing and Corporate Communications, Lodha Group (Macrotech Developers Ltd.) said, "We are pleased to partner with Tata Power for facilitating EV charging solutions across our developments. Fighting climate change and adhering to a sustainable framework has become imperative. Our emphasis on environment sustainability has been evident in our design and operations for many years. We believe that creators and operators of built environment have a huge responsibility to correct course and as a leader, we are committed to it through multiple initiatives. We care about our children - future generations deserve to be a given a better earth than what we inherited."

Tata Power boasts of an expansive network of over 5000 home chargers and over 600 public chargers in more than 120 cities in India. The company is present across all segments of the EV ecosystem - public charging, captive charging, home and workplace charging stations, and has deployed all types of chargers including DC chargers as well as AC Chargers.

"We are happy to collaborate with a key real estate developer like Lodha Group. This strategic partnership will allow us access to a vast consumer base of EV users at Lodha. Our aim is to make their life simple and comfortable by allowing easy access to EV charging from the comfort of their homes and offices, thereby, removing range anxiety and encouraging wider adoption of electric vehicles in the country. With significant presence across all segments of EV ecosystem, Tata Power is continuously expanding its network across key towns and cities."; said Mr Sandeep Bangia, Head - EV Charging, Tata Power.

Road transport is one of the largest contributors to global CO2 emissions. With vehicular emissions being a growing source of pollution in Maharashtra, the Government of Maharashtra recently announced its plans to aggressively develop EV charging infrastructure in the state. This partnership will certainly play a major role in fulfilling the agenda of decarbonizing transportation in the state.

*As per report titled "Real Estate Industry Report" dated January 2021, issued by Anarock Property Consultant Private Limited.

Shares of Macrotech Developers Limited was last trading in BSE at Rs. 1051.35 as compared to the previous close of Rs. 1024.5. The total number of shares traded during the day was 13623 in over 1113 trades.

The stock hit an intraday high of Rs. 1056.6 and intraday low of 1025.3. The net turnover during the day was Rs. 14137171.

Source : Equity Bulls

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