TVS Motor gains 5% on signing MoU with Amazon India | Tech Reddy

Shares in Wednesday’s trade were up close to 5% to a day high of Rs 1,166 after the automaker announced a deal with Amazon India to boost EV shipments. and Amazon India signed an MoU to expand EV deployment and strengthen their commitment to achieving net-zero carbon.

As part of this collaboration, two-wheeled and three-wheeled electric boat from

Cars will be shipped to Amazon’s last mile. In addition, the two companies will work together to explore EV use cases across Amazon’s various business groups for network and logistics needs.

In order to test the solutions, the two companies will pilot TVS Motor’s electric vehicle solutions on a partnership basis and deliver services across India.

“The partnership 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 Change Commitment. E-commerce is an integral part of our business operations and we are committed to transforming our transportation network to serve our customers sustainably,” said Abhinav Singh, Director-Customer Fulfillment, Supply Chain and Global Specialty Fulfillment, Amazon India.

Finally, shares of TVS Motor are trading with a gain of over 3% at Rs 1148.2 each on the NSE.