Tata Motors mulls to raise $600 million for EV bizz

  • India Infoline News Service |
  • 20 Jan, 2023 |
  • 11:54 AM

As per the sources, Tata Motors is in talks with global investors to raise at least $500-600 million more for its fast-growing electric vehicle business, just over a year after receiving $1 billion from TPG's Rise Climate Fund and Abu Dhabi state holding company ADQ.

According to the sources, Tata Motors is expecting a 15-20% premium over the previous round, when Tata Passenger Electric Mobility Ltd was valued at $9.1 billion. That would imply a valuation of up to $10.9 billion for the business, which it had established as a subsidiary in late 2021.

According to top executives close to the development, the move is part of an ambitious strategy by the leader in the electric passenger vehicle market to raise significant funds, both from external and internal sources, to support its growth plans through product innovations, particularly of the EV platform.

For the funding, the company is working with Morgan Stanley and has approached several marquee investors, impact funds, sovereign wealth funds from the Middle East, Korea, and Singapore, as well as Canadian pension funds.

Tata Motors is the country's first automaker to sell 50,000 electric passenger vehicles per year, a feat it accomplished in 2022 by selling the Nexon and Tigor EVs and commanding a more than 80% market share.

For feedback and suggestions, write to us at

Invest wise with Expert advice

mobile icon
  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
ad IconAd Image

Most Read News

Article Image
  • 14 March, 2022 |
  • 7:03 AM

The US Federal committee's meeting will conclude on March 16, 2022.

Most Shared News

No Record Found