26.1 C
Wednesday, October 27, 2021

Another big bet for Tata Motors in the e-vehicle segment, the giant equity firm will raise Rs 7500 crore from TPG

Tata Motors has sold ten thousand e-vehicles so far.

Tata Motors has gained a lot of momentum in the electric-vehicle race. The company is continuously making big announcements to strengthen its plans in this segment. Now it has announced to raise Rs 7500 crore from private equity firm for its electric vehicle subsidiary. With this, the valuation of this e-vehicle business of Tata can go up to about Rs 70,000 crore.

TPG to buy 11-15 per cent stake in association with ADQ

Tata Motors Limited (TML) and TPG Rise Climate, a company formed under the Dedicated Climate Strategy of TPG, have entered into an agreement related to this investment. According to this, TPG will invest in the newly formed subsidiary of Tata Motors in collaboration with Rise Climate associate investor ADQ. Both will invest Rs 7500 crore in Compulsory Convertible Instruments for a stake of 11 to 15 per cent. Accordingly, the valuation of the company can be around 70 thousand crores.

Now bring Hero Electric Scooter to your home for free, the company announced this great offer

Tata Motors wants to increase e-vehicle portfolio by 25 per cent

N Chandrasekaran, Chairman, Tata Motors said, “I am delighted to have TPG join us in our journey to grow the business of electric passenger mobility in the country. We will continue to invest in products that customers love. We are committed to play a major role in the central government’s target of increasing the share of electric vehicles to 30 per cent by 2030.” At the company’s Annual General Meeting (AGM) in July this year, Chandrasekaran had said that 25 per cent of the company’s passenger vehicle portfolio would be electric in the medium to long term. Right now this figure is only two percent.

ADQ is a strategic partner of the UAE government, investing in 90 companies

ADQ is a strategic partner of the Government of the United Arab Emirates and is one of the largest holding companies in the Gulf countries. It has invested in more than 90 domestic and international companies. Tata Motors has focused a lot on the e-vehicle segment in recent times. The company is selling Nexon and Tigor e-vehicles. In September, it has sold a total of 10 thousand e-vehicles.

5 upcoming CNG cars in India: These CNG cars can be launched amidst skyrocketing prices of petrol and diesel, know what are their features

Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.


Business Khabar
We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.
Latest news
- Advertisement -
Related news
- Advertisement -