Shares of Tata Motors (TMCV) gained over 2% to their day's high of Rs 411 on the BSE on Monday after the company said it has received orders for more than 3,400 electric commercial vehicles (eCVs) across freight, logistics and passenger transportation segments, underscoring the rising adoption of electric mobility in India's commercial transport market.
The orders comprise around 2,000 small commercial vehicles (SCVs) and pick-ups, nearly 900 trucks and about 500 buses. These vehicles are set to be deployed across a wide range of sectors, including e-commerce, logistics, FMCG and FMCD distribution, mining, steel and cement operations, as well as inter-city and intra-city passenger transport.
