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Tata Motors' Electric Vehicle Subsidiary To Get Rs 7,500 Crore Financing From TPG Group

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TPG Group, a personal equity firm will infuse funds in Tata Motors' electric cars armTata Motors announced on Tuesday that TPG Group, a private equity company and Abu Dhabi's ADQ will invest Rs 7,500 crore in its electrical automobile entity, which will be newly incorporated.The whole financial investment will be made in different tranches over an 18-month period, starting from the date of completion of the first tranche.The very first instalment of capital infusion will be done by March 2022 while the whole process will be finished by end of 2022.

Tata will integrate a separate electrical mobility unit in which TPG and ADQ will get in between 11 percent and 15 percent stake at an equity assessment of $9.1 billion.

I am thrilled to have TPG Rise Climate join us in our journey to develop a market-shaping electrical passenger movement company in India.

We will continue to proactively invest in interesting products that thrills customers while carefully producing a synergistic community.

We are thrilled and devoted to play a leading role in the Federal government's vision to have 30 percent electric vehicles penetration rate by 2030, Tata Motors Chairman N Chandrasekaran said.Apart from Tata Motors venture in the electrical vehicle service, Mahindra - Mahindra had also announced that it will invest Rs 3,000 crore in the next 3 years to develop an electrical lorry vertical.




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