Tata Motors is planning to invest Rs 15,000 crore in the EV segment in the next five years, according to reports. The company is a leader in the newly emerging EV segment with offerings such as Nexon. Tata Motors is also planning to develop around 10 more new offerings in the segment.
In October last year, Tata Motors announced that it will raise $1 billion (Rs 7500 crore) in its passenger electric vehicle business at a valuation of up to $9.1 billion. TPG Rise Climate along with co-investors ADQ shall invest Rs 7,500 crore in compulsory convertible instruments to secure between 11% to 15% stake in a newly incorporated subsidiary of Tata Motors.
Tata Motors has set up a new company, Tata Electric Vehicles Ltd, which will create a portfolio of 10 electric vehicles (EVs) and catalyse the creation of a widespread charging infrastructure to facilitate rapid EV adoption in India. The new company shall leverage all existing investments and capabilities of Tata Motors and will channelise the future investments into electric vehicles, dedicated BEV platforms and advanced automotive technologies.
Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. On a consolidated basis, the auto major reported net loss of Rs 1,338.17 crore in Q3 FY22 as against a net profit of Rs 3,222.21 crore in q3 FY21.
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