Adani TotalEnergies E-Mobility Limited (ATEL), a wholly owned subsidiary of Adani Total Gas Limited (ATGL), and part of the diversified Adani Portfolio and MG Motor India signed a Memorandum of Understanding (MoU) to strengthen the EV charging infrastructure in India. The joint collaboration to develop the charging solutions for electric vehicle (EV) and value-added services to MG's EV customers nationwide and will underpin India's rapidly evolving EV ecosystem by helping build a robust and efficient charging infrastructure.
In terms of MoU, Adani TotalEnergies E-Mobility Limited (ATEL) will set up CC2 60 kW DC chargers at upcoming MG dealerships to bolster the charging network and enhance customer accessibility. The partnership will also provide a comprehensive solution encompassing supply, installation, commissioning, operations, and maintenance of charging infrastructure. In addition, a digital platform will be launched to facilitate a seamless customer experience, covering discovery, user authentication, charging, and billing settlement through a dedicated mobile application.
Under this strategic partnership, both parties shall explore the potential of integrating public charging stations across platforms by leveraging advanced application programming interfaces (APIs) to enhance network visibility and accessibility. This integration will offer increased accessibility and visibility to the PCS Network and a seamless experience across the integrated network owned and deployed by both entities.
Gaurav Gupta, Chief Growth Officer, MG Motor India, said, "MG is committed to Carbon Neutrality, Sustainability, and Green Mobility. We are delighted to embark on a new journey with Adani TotalEnergies E-Mobility Limited, which will catalyse the adoption of electric vehicles in India. This strategic partnership reflects our commitment to sustainable mobility and our vision to revolutionise the EV landscape by building a robust charging infrastructure. The combined synergies aim to empower Indian consumers to embrace electric mobility."
Talking on the occasion, Suresh P Mangalani, ED & CEO, ATGL, said, "The world is embracing more sustainable and clean energy sources and electric vehicles are at the forefront of this transition. Adani TotalEnergies E-Mobility Limited's and MG Motor India's partnership to develop charging infrastructure marks a significant milestone and will play a crucial role in accelerating India's energy transition. This effort will contribute towards reducing carbon emissions and promoting a cleaner and greener environment."
The collaboration will enhance customer experience with RIFD solutions accessible to MG users at the strategic locations of ATEL's public charging network, especially at places such as airports. ATEL will offer RFID cards to MG through bulk purchase arrangements, featuring preferential discount offerings for MG users.
As an early mover in the EV space, MG India's focus has been on developing product offerings and establishing a robust EV charging infrastructure to ensure convenience in the adoption of electric vehicles. MG also has a 6-way charging infrastructure to make electric vehicle usage more convenient and accessible.
Shares of Adani Total Gas Limited was last trading in BSE at Rs. 967.00 as compared to the previous close of Rs. 978.80. The total number of shares traded during the day was 60239 in over 2934 trades.
The stock hit an intraday high of Rs. 987.75 and intraday low of 963.35. The net turnover during the day was Rs. 58880528.00. |
