On Wednesday, a top official of Tata Motors Company Ltd. stated that it is anticipating an investment of Rs15000 crore in the Electric Vehicles segment in the next five years. The company is also planning to develop around 10 more new offerings in the segment in addition to its existing EV offering Nexon.
Post this development, Tata Motors’ stock jumped nearly 4%, and is currently trading 2.15% higher at Rs422.55 against its previous closing price of Rs413.65. It touched day’s high and low of Rs428.55 and Rs420.70 respectively.
Recently, the company has raised USD 1 billion in funding from private equity major TPG in its EV division, taking the business value to USD 9.10 billion.
Tata Motors currently maintains a network of nearly 400 charging stations in Maharashtra of which 15-20 are located in Aurangabad and this needs further expansion, stated Tata Motors’ official.
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