Tata Motors News: Tata Motors raises close to $1 billion from TPG, ADQ for EV business |

NEW DELHI: Indian automaker Tata Motors has raised 75 billion rupees ($994 million) from personal fairness agency TPG‘s Rise Climate Fund and Abu Dhabi’s ADQ to increase its passenger electrical mobility business, the corporate stated on Tuesday.
Tata will type a separate electrical mobility unit wherein TPG and ADQ will get between 11% and 15% share in opposition to compulsorily convertible shares, valuing the brand new entity at about $9.1 billion, the corporate stated in a press release.
The funds will likely be used to put money into electrical automobiles, devoted BEV platforms, charging infrastructure and battery applied sciences, Tata Motors stated.
The automaker has plans to launch 10 new EVs by 2025 in addition to put money into establishing charging infrastructure throughout the nation.

2021-10-12 18:02:33

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