Amazon India and TVS Motor Company have announced a strategic engagement to strengthen electric mobility, electric infrastructure and connected services. As part of this collaboration, a fleet of electric two-wheelers and three-wheelers from TVS Motor will be deployed for Amazon's last-mile deliveries. In addition, the two companies will work in tandem to examine EV use cases for various Amazon business groups for its network and logistical requirements. In order to test solutions, the two companies will pilot TVS Motor's electric vehicle solutions through partner base and delivery associates across India.
"The collaboration marks another decisive step for Amazon to achieve our goal of becoming net-zero carbon by 2040, as part of our commitment to The Climate Pledge. Electric mobility is a significant component of our business operations and we are resolute in our commitment to transforming our transportation network to serve our customers more sustainably," said Abhinav Singh, Director - Customer Fulfilment, Supply Chain and Global Specialty Fulfilment, Amazon India. "Our collaboration with TVS Motor strengthens our delivery network by adding electric two and threewheelers to our existing fleet. This will support our supply chain in minimising the environmental impact of our operations and contribute to Amazon India's goal of inducting 10,000 EVs into our fleet by 2025," added Singh.
Speaking on the collaboration, Manu Saxena, Senior Vice President, Future Mobility, TVS Motor Company said "We have always been at the forefront of driving electrification in the industry with our continued focus in the two-wheeler and three-wheeler segment. With the great success of TVS iQube Electric, we now intend to expand our electric offering across multiple segments and commercial mobility stands at the opportune inflection point. TVS Motor is now ready with electric two-wheeler and three-wheeler product options for B2B along with an ecosystem of connected service and alternate ownership. We are happy to collaborate with Amazon India, which marks a big milestone in our journey, and contribute to our joint goals of electrifying their mobility services. We are confident that this collaboration will open the door to creative solutions that will further nurture a more resilient, sustainable, and brighter future."
In 2020, Amazon India announced that it would include 10,000 EVs in its delivery fleet by 2025. This is part of its overall progress towards The Climate Pledge - a commitment to achieve net-zero carbon by 2040, 10 years ahead of the Paris Agreement. The induction of these EVs is in addition to Amazon's global commitment of 100,000 EVs by 2030. The partnership with TVS Motor Company is an important step in Amazon India's progress in the e-mobility industry and towards achieving its net-zero carbon goals.
This partnership is also in line with TVS Motor's announcements aiming to have electric vehicles across segments like delivery, commuter and premium. TVS Motor Company will introduce a full portfolio of electric two-wheelers and three-wheelers over a period of eight quarters in the domestic and international markets. It will further be instrumental in expanding and strengthening the company's focus on presence across all major cities, charging solutions and alternate ownership models in India.
Local logistics players, delivery associates, fleet operators, and EV stakeholders will be able to benefit from this extensive collaboration as it offers a potential increase in the share of EVs in Amazon's lastmile delivery, and provides them with an opportunity to participate in TVS Motor's product and service offerings in the commercial mobility segment.
Shares of TVS Motor Company Limited was last trading in BSE at Rs. 1145.30 as compared to the previous close of Rs. 1111.80. The total number of shares traded during the day was 150090 in over 5811 trades.
The stock hit an intraday high of Rs. 1165.90 and intraday low of 1116.05. The net turnover during the day was Rs. 172614627.00.