Traveltime E-Mobility Chennai Private Ltd will become an associate company, it said in a stock exchange filing.
Traveltime E-Mobility has won the tender for operation and maintenance of Electric busses under Municipal Corporation of Chennai.
TECPL was incorporated on 23 December 23 under the Companies Act, 2013 to carry out the business of E-Mobility.
Tata Motors said the company through its wholly owned subsidiary is participating in the tenders issued by various Municipal Corporations for the operations and maintenance of electric buses and the acquisition is in line with its business objectives.
The acquisition will be completed by 31 January.
