Tata Motors to invest over USD2 billion in electric-vehicle business over next five years.

Auto Business News-October 14, 2021--Tata Motors to invest over USD2 billion in electric-vehicle business over next five years

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Auto Business News - 14 October 2021

India-based Tata Motors' head of Tata passenger vehicles business, Shailesh Chandra, has said that the company is to invest over USD2 billion in its electric-vehicle business over the next five years.

Chandra made the statement after the company announced that it had raised funds from private equity firm TPG Capital. In the statement, Tata said that TPG's Rise Climate Fund and Abu Dhabi state holding company ADQ had agreed to invest approximately USD1 billion to expand the company's EV business. The EV unit is to become a separate unit.

TPG and ADQ will hold between 11 percent and 15 percent in the new EV entity...

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