Tata Motors advanced 0.97% to Rs 444.15 after the media reports suggested that the company would supply 25,000 XPREST electric vehicle (EV) units to Uber in one of the largest deals in the green mobility space till date.
The reports further stated that as per a memorandum of understanding inked between the two entities, Uber will utilise the electric sedans in its premium category service.
The Mumbai-based automaker will begin the deliveries of the cars to Uber fleet partners in a phased manner, starting this month, the reports added.
Tata Motors designs, manufactures and sells a wide range of automotive vehicles. The company also manufactures engines for industrial and marine applications.
The company reported consolidated net profit of Rs 2,957.71 crore in Q3 FY23 as compared with net loss of Rs 1,516.14 crore in Q3 FY22. Total revenue from operations increased by 22.5% YoY to Rs 88,488.59 crore during the quarter.
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