Tata Passenger Electric Mobility

Tata Passenger Electric Mobility Limited (TPEML) is the electric-passenger-vehicle subsidiary of Tata Motors Limited, incorporated December 21, 2021 and headquartered in Mumbai, India, to house Tata Motors' electric-car business as a separately capitalized entity. In October 2021 Tata Motors announced it would raise up to $1 billion for the new subsidiary from US private-equity firm TPG (through TPG Rise Climate) and Abu Dhabi's ADQ, at a valuation of up to $9.1 billion, giving the TPG-ADQ combine roughly 11-15% of the subsidiary on a fully diluted basis while Tata Motors retained the large majority stake. The investment closed in two $500 million tranches of compulsorily convertible preference shares, the first in March 2022 and the second and final tranche in January 2023. TPEML sells Tata's electric passenger-vehicle lineup -- the Tiago EV, Nexon EV, Punch EV and Curvv EV -- and in January 2023 it also acquired Ford India's former manufacturing plant in Sanand, Gujarat, retooling it to add electric- and combustion-vehicle production capacity. Tata's electric passenger vehicles sold 92,120 units in FY2026 (the fiscal year ended March 2026), up 43% year over year, though the company's share of India's electric-passenger-vehicle market slipped to roughly 40% in FY2026 from about 53% a year earlier as JSW MG Motor and Mahindra & Mahindra gained ground. Shailesh Chandra has led TPEML as Managing Director and was additionally named Managing Director & CEO of parent Tata Motors Limited effective October 1, 2025.