Ride-hailing giant Uber Technologies (NYSE:UBER) has teamed up with India’s Tata Motors (NYSE:TTM) in its electrification push.
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The two companies have signed a memorandum of understanding under which Uber will incorporate 25,000 EVs from TTM in its premium category.
Vehicle deliveries are anticipated to begin in phases starting this month itself. The vehicles will be operational across major Indian cities including Mumbai, Bengaluru, Hyderabad, and Delhi NCR.
Overall, Wall Street has a consensus price target of $47.71 on UBER, implying a substantial 37.2% potential upside in the stock. That’s on top of a nearly 18.3% gain in UBER shares over the past month alone.
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