LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » India News

Will make money from EESL e-vehicle order: Chandrasekaran

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Oct 09, 2017
06:59 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Tata Sons Chairman N Chandrasekaran today said the group's auto arm Tata Motors will make money from the government order for supply of 10,000 electric vehicles.

In a tender floated by state-run Energy Efficiency Services Ltd (EESL), Tata Motors emerged as the lowest bidder for 10,000 electric cars. The company had quoted the lowest price of Rs 10.16 lakh exclusive of the GST.

"I have seen comments by Pawan (Goenka) and Anand (Mahindra) both of whom I deeply respect. But I want to tell you, we will make money," Chandrasekaran said in an interview to CNBC TV18.

Last week, Mahindra & Mahindra (M&M) had raised questions about the pricing offered by Tata Motors for the tender and had said that it will have to take a "hard look" at how it could justify participating in the next phase of the tender.

"We have been selling electric vehicles in the country for the the last five years. We have an idea about the costing of various components. So we find it difficult to comprehend the pricing offered by the other bidder (Tata Motors)," M&M Managing Director Pawan Goenka had said.

Tata Motors will provide electric cars for Rs 11.2 lakh, which will be inclusive of GST and comprehensive five-year warranty which is 25 per cent below the current retail price of a similar e-car with three-year warranty.

As per the tender, the vehicles in the first phase will have to be supplied by November 30, 2017.

Mahindra's price per unit is over 2 lakh expensive than that of Tata Motors and therefore it is yet to decide whether to participate in the second round of the tender which will account for over 9,500 units.

"We were offered 50 per cent of the tender (500 units) in the first phase but we opted for 30 per cent as we would be losing money as our product is about Rs 2.3 lakh expensive than other bidder (Tata Motors)," Goenka had said.

Mahindra had said that its e-Verito was much bigger in size with better features and it will seek suppliers' views to ascertain if the price can be brought down.

Goenka, however, had ruled out curtailing vehicle size and other features to bring down the cost.

While Tata Motors will supply 250 cars in the first phase, M&M will supply 150 units.

The electric vehicles procured under the EESL tender will be used to replace petrol and diesel cars currently used by the central government and its agencies over a 3 to 4-year period.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

GAIL plans to launch pipeline InvIT before Co split

Indigo Paints IPO: How to check share allotment status? SHORTEST WAY! Know subscription directly from BSE, Link Intime website

FD Calculator - SBI vs HDFC vs ICICI Bank: Which will give more return for your fixed deposit money?

Adidas unveils ULTRABOOST 21, a fresh update of the brand’s most successful ever running franchise

Two biz lessons from India vs Australia Cricket Test Match, straight from the Fund Manager's desk

RBI proposals to restrict land financing by NBFCs: Report

Jacqueline Fernandez to debut in Hollywood with anthology movie 'Women Stories

Amazing pagdi! PM Narendra Modi's turban pics go viral! Know story behind headgear and who gifted it

Farmers storm Red Fort, clashes and teargas as R-Day tractor parade turns violent

SBI MF Retirement Benefit Scheme: 200% returns than FD! Term insurance of up to Rs 50 lakh! Should you invest? EXPLAINED

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved