Mahindra’s EV unit raises $145 million from Temasek
Mahindra and Mahindra has raised $145 million from Temasek for its electric vehicle unit at a valuation of up to Rs 805.8 billion ($9.8 billion), the latest fundraising by the Indian automaker as it looks to ramp up EV sales.
Temasek will take up to a 3% stake in the company which last year raised up to $250 million from British International Investments (BII) at a valuation of as much as $9.1 billion.
