INSUBCONTINENT EXCLUSIVE:
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
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.
