Tata Motors, India’s largest automaker, has incorporated a wholly-owned subsidiary TML Smart City Mobility Solutions (TSCMSL) for undertaking urban mass mobility business inter alia under an own, operate and maintain model.
With this incorporation, the company intends to bring specific focus to its electric vehicles (EV) segment as service offerings across its portfolio of commercial vehicles.
In addition to existing State Transport Units (STUs) and government fleets, the new subsidiary will cater to all business opportunities across passenger mobility applications, the company said in a statement.
TSCMSL has been incorporated to manufacture, design, develop, electric, diesel, CNG, hybrid, new energy vehicles (including hydrogen fuel cell). TSCMSL gets an initial capital of ₹5 crore.
Tata Motors already has around 650 electric buses plying on roads in India with a cumulative coverage of over 35 million km. The company operationalised more than 250 such buses in FY22.