Tata Power shares Up 3% after partnership agreement with JLR

Tata Power shares Up 3% after partnership agreement with JLR:

Tata Power shares: It is one of the largest electric utility company in India located in Mumbai. The company’s main business is to produce, transmit, and distribute electricity and also one of the subsidiaries of Tata Group. Whereas, the company became the first Indian company to ship over 1 GW solar modules.

However, the company on Thursday reported a bullish trend in the early stock market with a 2.6% increase. The main reason for this is the company made an agreement with the luxury carmaker Jaguar Land Rover on Wednesday. The agreement is to give the electric vehicle charging infrastructure to the Jaguar company.

The Jaguar is a British multinational automotive company located in the United Kingdom. Whereas, in India, it is a subsidiary automotive company to Tata Motors. 

However, the Tata Power company will provide a basic solution to the Jaguar Land Rover in India against electric vehicles. The Jaguar company has already 27 automotive plants across 24 cities in India, said JLR.

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Besides, the Tata power company is responsible for providing a different type of AC and DC chargers. The Charger capacity will vary from 7kW to 50kW and also the Jaguar company prefers these facilities at designated premises of the company. However, the company also prefers sales related to support services on its premises.

This agreement deal with Tata power will help Jaguar company to provide services in charging solutions for its newly launched vehicles in India. “These benefits help to launch the upcoming Jaguar I-PACE in the second half of this year in India.

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