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Tata Power Company Ltd’s shares were up by 2.20 per cent after the company collaborated with Indian Oil Corporation Ltd, signing an MoU to deploy 500+ fast and ultra-fast electric vehicle (EV) charging points across India.
This collaboration aims to install EV charging points in major cities and along key highways, intending to alleviate range for intercity EV travellers. EV users will have a dual advantage of EV charging through the ‘Tata Power EZ Charge’ app and ‘IndianOil e-Charge’ mobile app that can be used to locate and book the chargers at their convenience.
Saumitra Shrivastava, Executive Director (Retail-N&E), said, “IOCL envisages to provide 10,000 EV Charging Stations by 2024 transforming the retail network to complete energy solutions outlets. With more than 6,000 EV charging stations at present, the company plans to keep expanding its reach. Our strategic partnership with Tata Power is poised to play a pivotal role in responding to this transformative shift. We at IOCL are geared up to overcome challenges and capitalise on opportunities in this area, ensuring a seamless transition towards a more sustainable and eco-friendly mobility paradigm.”
The shares were up by 2.20 per cent to ₹330.87 at 2.09 pm on the BSE.
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