Region: South Asia (SA)
Country: India
Sector: Transportation
Keywords: Innovative Revenues for Infrastructure
Document Link(s):
Document Summary:
Within four years of diversifying into charging, Tata Power has consolidated its position at the top of the sector, accounting for over 50% of PCPs in the country. Even in the home charging and fleet charging verticals, Tata Power’s market share is at ~40%, according to an August report by the brokerage Edelweiss Securities.
Document Details:
Tata Power is central to the EV ecosystem ambitions of the 153-year-old conglomerate Tata Group. While Tata Motors rolls out EVs, Tata Chemicals makes lithium-ion cells, and Tata AutoComp assembles battery packs, Tata Power has been tasked with beefing up the charging infrastructure. Without this, all the other puzzle pieces don’t quite come together. But as much as the Tata Group needs Tata Power, it works the other way, too.
Tata Power is the exclusive charging partner to Tata Motors, which accounted for over 70% of India’s electric car sales in the three months ended September. In October, Tata Motors raised $1 billion from TPG Rise Climate—the first climate fund of the global private equity major—and Abu Dhabi’s state holding company ADQ for its newly formed EV subsidiary. The deal values the unit at $9.1 billion.
Updated: August 8, 2023