Tata and Hyundai to sell 250 electric vehicles to EESL


News provided by

Comserve Inc.

Sep 08, 2020, 13:00 EST


Bronx, United States, Sep 08, 2020, 13:00 /Comserve / -- Energy Efficiency Services Limited (EESL) will be procuring 250 electric vehicles from Tata Motors and Hyundai Motor India. EESL is a Super Energy Service Company (ESCO) which falls under the administrative control of the Ministry of Power.

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Sept. 04, 2020 -- Energy Efficiency Services Limited (EESL) will be procuring 250 electric vehicles from Tata Motors and Hyundai Motor India. EESL is a Super Energy Service Company (ESCO) which falls under the administrative control of the Ministry of Power, Government of India. Tata Motors and Hyundai Motor India were selected through an international competitive bidding process which was done to have increased participation. Both the companies won the tender and will now work to supply 150 Nexon electric compact SUVs (Tata) and 100 Kona electric premium SUVs (Hyundai) for government use.

To facilitate faster adoption of disruptive technology solutions that drives EESL, it also aims to balance economic development along with environmental sustainability. EESL, through this specific initiative, wishes to create a market for electric vehicles with the help of its unique business model of aggregation of demand and bulk procurement. According to EESL, there is immense potential to replace existing vehicles in the various departments of the government mainly for initial demand aggregation.

Tata Nexon will be procured by EESL at INR 14.86 lakh each. This is INR 13,000 cheaper than its ex-showroom price of INR 14.99 lakh. Similarly, Hyundai Kona will be procured at an 11% lower price band of INR 21.36 along with a standard three-year warranty. The existing fleet of petrol and diesel vehicles belonging to the Central and State governments will be replaced by these electric vehicles. The Agency for Non-Conventional Energy and Rural Technology (ANERT) in Kerala have already placed an order with EESL for 300 Long Range EVs. These will be supplied in the initial phase.

Through its innovative business model, EESL plans to use to their advantage, efficiencies of scale, and drive down costs. All this will be done while supporting the local manufacturing facilities along with gaining technical competencies for long term growth. This will help Indian EV manufacturers rise as major global players.

Based on a report published on Sept. 02, 2020, Tata Motors Limited recorded sales in the Domestic and International Market for the month of Aug. 2020 at 36472 vehicles. The same for Aug. 2019 was 32166 vehicles. This shows a moderate increase in their vehicle units sold.

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