India
Recently, the Tata Motors and TPG Rise Climate has entered into a binding agreement, wherein the latter along with its co-investor ADQ will invest in its newly incorporated subsidiary of Tata Motors.
TPG Rise Climate would invest nearing to Rs. 75 billion in compulsory convertible instrument, wherein it would secure about 11 to 15% stake in this company, thus translating to an equity valuation nearing to $ 9.1 billion. The carmaker looks to expand beyond 100 cities and 255 touchpoints. The new company would help in leveraging entire existing investment and capabilities of TATA Motors and it would also help in channelizing the future investment in EVs, dedicated BEV platforms and advanced automotive technologies and catalyse the investments in charging infrastructure and also battery technologies. To have market dominance, Tata Motors is going about its EV business in a strategic manner and it would comprise a holistic offering of network and charging infrastructure and products. The carmaker, which is witnessing a robust demand for its passenger vehicle business, is also notching speedy gains in the electric passenger vehicle. By recognizing the growing demand from the fleet user segment, Tata Motors has introduced the Xpres-T EV in mid-September. The eco-friendly sedan, targets mobility services, corporate and government fleet customers, which comes with an optimal battery size as well as captive fast charging solution, both of which are designed to provide a low ownership cost.
TATA Motors has been implementing Project Helios, wherein it has confirmed its plans to expand its portfolio by offering india-specific products having different body styles as well as driving ranges, that is 10 EVs by FY2026.
It would also like to introduce a subscription model for TATa EVs and it has got plans to further increase localisation levels of EV components (both Tier 1 and Tier 2) and this would help optimize the costs.
Sources: The Hans India
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