Automobile
Tata Motors to infuse Rs 700 crore in its electric vehicle industry
To strengthen its presence in the EV market, Tata Motors has formed a new entity called Tata Passenger Electric Mobility Limited (TPEML). Incorporated with an initial capital of 700 crore, the new subsidiary of the Indian carmaker received its Certificate of Incorporation from the Ministry of Corporate Affairs on 21 December, 2021.
Tata Motors is the promotor of TPEML and holds a 100 per cent share in the newly created company. TPEML will undertake the manufacturing, designing, and development of services related to electric vehicles and hybrid electric vehicles. Earlier in October 2021, Tata Motors joined hands with TPG Rise Climate to infuse Rs 7,500 crore along with its co-investors. TPEML is likely to observe multiple investments by the said partnership in future and will result in the development of new electric vehicles, dedicated BEV platforms, and advanced automotive technologies.
A few months back, the carmaker also announced that the company will have 10 pure electric vehicles in its lineup by 2025. Currently, the EV portfolio comprises the Nexon EV and the recently launched Tigor EV. Synchronously, Tata Motors is also actively working on expanding the EV charging infrastructure in the country.
Hyundai India launched the much-awaited Creta Knight Edition in the country at a starting price of Rs 13.51 lakh (ex-showroom, all-India). This new variant is available in both petrol and diesel engine options and can be had either with a manual or an automatic transmission unit. To read more about the Creta Knight Edition, click here. In addition to this, the company has also introduced a model-year update for the Hyundai Creta with new feature additions.
The 2022 Hyundai Creta is now available in a new Denim Blue colour option and the Highline TPMS is now standard across all variants. The SX (O) trim now also gets a glossy black centre console. Furthermore, the company will offer the iMT option on the 1.5-litre petrol ‘S’ variant to further expand choices for the customers. The new S+ variant powered by a 1.4-litre T-GDi petrol engine with 7DCT now gets an additional set of features, such as –
– Smart panoramic sunroof
– 16-inch black alloy wheels
– Smartphone wireless charger
– Rear Disc Brakes
– Electronic Stability Control (ESC)
– Vehicle Stability Management (VSM)
– Hill start assist control (HAC)
– Paddle shifters
– Metal pedals
– Electric and auto-folding ORVMs
– Power window auto up/down
Mechanically, the SUV continues to be powered by the existing petrol and diesel engine options.
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