Tata Motors Ltd forms subsidiary for EV business

Tata Motors Limited ('the Company') has incorporated a wholly owned subsidiary, viz., Tata Passenger Electric Mobility Limited. The Ministry of Corporate Affairs, Government of India has issued the Certificate of Incorporation on December 21, 2021.

TPEML has been incorporated to manufacture, design, develop all kinds of services related to electric vehicles/electric mobility, hybrid electric vehicles of all kinds and all descriptions for carrying passengers or other personnel, whether propelled, moved, drawn or assisted by means of electricity, battery, solar energy, or any other power devices whatsoever; engines, motors, parts, components, accessories and related equipment thereof, as well as activities required for establishing and undertaking the assembly, manufacture, fabrication, sales, after sales services, marketing, promoting and/or servicing facilities.

TPEML has been incorporated with authorized capital of 70,00,00,000 equity shares of ₹10/- each aggregating to ₹700,00,00,000/-. The entire paid-up share capital will be held by TML.

Shares of Tata Motors Limited was last trading in BSE at Rs. 470.50 as compared to the previous close of Rs. 453.55. The total number of shares traded during the day was 1553516 in over 15622 trades.

The stock hit an intraday high of Rs. 471.90 and intraday low of 458.55. The net turnover during the day was Rs. 726305619.00.

Source : Equity Bulls

Keywords

TataMotors INE155A01022 TataPassengerElectricMobility ElectriVehicles HybridEVs