While reporting upbeat earnings on Thursday, Amazon.com, Inc. AMZN also highlighted its partnership with Indian auto giant Tata Motors Limited ADR TTM.
The Partnership: Amazon signed an agreement with Tata Motors to include the new Tata Ace electric vehicle as part of its delivery fleet. The new drive vehicle (EDV) was co-developed with Amazon and will contribute to the company’s goal of having 10,000 EDVs on the road in India by 2025, the retailer said in a press statement.
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What Is Tata Ace: The Ace EV features Tata Motors’ EVOGEN power train that offers a certified range of 154 km, according to the firm’s website. The vehicle is powered by a 27kW (36hp) motor with 130Nm of peak torque.
Other Players: Tata Motors had earlier signed pacts with e-commerce and logistics players that include BigBasket, City Link, DOT, Flipkart, LetsTransport, MoEVing, and Yelo EV.
The pact with Tata Motors includes delivering 39,000 units of the Ace EV, setting up dedicated EV support centers for maximum fleet uptime, and deployment of Tata Fleet Edge, the firm’s next-generation fleet management solution.
Price Movement: Amazon shares ended over 1% higher at $122.28 on Thursday, before surging 13.6% to $138.95 in extended trading after quarterly results were released, according to data from Benzinga Pro.
Image and article originally from www.benzinga.com. Read the original article here.