Share Market Live

NSE

Amazon India will deploy a fleet of electric two and three-wheelers manufactured by TVS Motor Co. for last-mile deliveries across the country.

This will be as part of a strategic engagement between the two companies announced on Wednesday.

In addition, the two companies would work in tandem to examine the possible use cases of electric vehicles for various Amazon business groups for its network and logistical requirements.

Also Read: Brokerages divided over TVS Motor after auto maker's quarterly profit falls short of Street estimates

The collaboration is part of Amazon’s commitment to reach net-zero carbon by 2040, and TVS Motor's commitment to bolster the electrification ecosystem in India.

Amazon India aims to induct 10,000 electric vehicles in its fleet by 2025 and the collaboration with TVS is aimed at strengthening its delivery network.

On its part, TVS Motor aims to expand its EV offerings across multiple segments, including commercial mobility.

Shares of TVS Motor are trading 3.3 percent higher at Rs 1,149 near their 52-week high.

Also Read: TVS Motors has achieved this landmark for the first time in 25 years