New Delhi: Auto major Tata Motors on Thursday announced that its subsidiary has picked up a minority stake in a newly incorporated e-mobility firm to bolster its urban transport solutions portfolio.
The investment was executed by TML Smart City Mobility Solutions Limited, which acquired 35,135 equity shares of Traveltime E-Mobility Chennai (TECPL) at par value. Following this transaction, TECPL has become an Associate of Tata Motors.
The primary objective behind the acquisition is to facilitate the company’s participation in municipal tenders. TECPL recently won a tender for the operation and maintenance of electric buses under the Municipal Corporation of Chennai. By taking a stake in the operator, Tata Motors ensures a deeper integration into the service and maintenance ecosystem of its EV bus fleet.
Deal
Target Entity: Traveltime E-Mobility Chennai Private Limited (TECPL), incorporated on December 23, 2025.
Consideration: A cash payment of ₹3,51,350.
Timeline: While the initial investment has been made, the company expects the full acquisition process to conclude by January 31, 2026.
Sector: Service sector, specifically focused on E-Mobility.
This micro-acquisition highlights Tata Motors’ strategy of creating a dedicated ecosystem for its “Smart City” projects. By partnering with localized players who win municipal contracts, the company can streamline the rollout of its electric vehicle infrastructure across major Indian metros.
The company clarified that the deal does not fall under “related party transactions,” though TECPL will technically become a related party post-acquisition due to its new status as an associate company.
Shares of Tata Motors Limited were being monitored closely on the BSE and NSE following the announcement. The stock has been a key beneficiary of India’s aggressive push toward public transport electrification.