A new subsidiary Tata Passenger Electric Mobility Ltd has been incorporated for the same.

Tata Motors on Wednesday said that it has received ₹3,750 crore from TPG Rise Climate as the first tranche towards the latter's ₹7,500 crore investment in the automaker's electric vehicle business.

The company had announced last October that TPG Rise Climate along with its co-investor ADQ, shall invest ₹7,500 Cr in compulsory convertible instruments to secure between 11% to 15% stake in its EV business.

A new subsidiary Tata Passenger Electric Mobility Ltd has been incorporated for the same.

Tata Motors gets first tranche of Rs 7,500 crore TPG investment

The company had announced last October that TPG Rise Climate along with its co-investor ADQ, shall invest ₹7,500 Cr in compulsory convertible instruments to secure between 11% to 15% stake in its EV business.

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Tata Motors gets first tranche of Rs 7,500 crore TPG investment

​​The company had announced last October that TPG Rise Climate along with its co-investor ADQ, shall invest ₹7,500 Cr in compulsory convertible instruments to secure between 11% to 15% stake in its EV business.

Read More News on

The company had announced last October that TPG Rise Climate along with its co-investor ADQ, shall invest ₹7,500 Cr in compulsory convertible instruments to secure between 11% to 15% stake in its EV business.