Apollo Tyres Ltd. announced that the company has entered into a strategic partnership with Tata Power Ltd. for the deployment of public charging stations across India.
These charging stations will be deployed at Apollo Tyres’ Commercial and Passenger Vehicle Zones spread across the country. Tata Power has a presence across all the segments of the EV charging ecosystem and has deployed all types of chargers – DC 001, AC, Type2, Fast DC chargers up to 50kwh and up to 240kwh chargers for buses. Based on location, this classification of chargers will support EV charging for two-wheelers & four-wheelers, respectively.
Dr. Praveer Sinha, CEO, and MD of Tata Power stated, “We are glad to partner with Apollo Tyres for the deployment of EV charging stations across their commercial & passenger vehicle zones. This partnership reflects our commitment to developing and expanding the electric vehicle ecosystem in the country.”
Commenting on this move, Satish Sharma, President, Asia Pacific, Middle East & Africa, Apollo Tyres Ltd said, “This is another of the several first moves that we have taken in the tyre and auto component space in India. The setting up of EV Charging Infrastructure at our Business Partner’s premises strengthens our resolve towards promoting green mobility in the country. With Tata Powers’ huge service network, we are assured of the availability of uninterrupted charging infrastructure across locations.”
As per the agreement between Apollo Tyres and Tata Power, the latter will set up Charging Stations at 150 branded retail outlets – CV and PV Zones – of Apollo Tyres initially. In addition to the customers visiting these tyre retail outlets, the charging stations would be open for use by the general public as well, throughout the year.
The development and availability of EV charging infrastructure are crucial for the rapid adoption of electric mobility in India. The Tata Power-Apollo Tyres partnership will play a strong role in encouraging EV owners to charge their EVs across various locations.
At around 12.05 pm, Apollo Tyres was trading at Rs224.80 down by Rs0.7 or 0.31% from its previous closing of Rs225.50 on the BSE.