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UltraTech Cement to Scale Up EV Truck Fleet to 600+ by December

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UltraTech Cement (NSE:ULTRACEMCO, BOM:532538) plans to increase its electric vehicle fleet for logistics operations to more than 600 trucks by December.

The company has signed service contracts with Tata Motors, Ashok Leyland (NSE:ASHOKLEY, BSE:500477), IPLTech Electric, Energy in Motion and Sany, along with their units and third-party logistics providers, to deploy the trucks, according to a Wednesday filing on Indian bourses.

The fleet is expected to transport about 5 million metric tons of clinker and other materials annually across seven states.

Shares of the company fell nearly 2% in recent trade.

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