TPG Group Will Invest Rs 7,500 Crore in Tata Motors' Electric Vehicle Arm
NDTV
Tata Motors announced that TPG Group, a private equity firm and Abu Dhabi's ADQ will invest Rs 7,500 crore in its electric vehicle entity
Tata Motors announced on Tuesday that TPG Group, a private equity firm and Abu Dhabi's ADQ will invest Rs 7,500 crore in its electric vehicle entity, which will be newly incorporated.
The entire investment will be made in different tranches over an 18-month period, starting from the date of completion of the first tranche.
The first instalment of capital infusion will be done by March 2022 while the entire process will be completed by end of 2022.
Tata will incorporate a separate electric mobility unit in which TPG and ADQ will get between 11 per cent and 15 per cent stake at an equity valuation of $9.1 billion.
