M&M raises Rs 1925 cr in a proposed EV subsidiary from BII at a valuation of Rs 70,070 cr

With a plan to invest over $1 billion in electric vehicle ambition, Mahindra & Mahindra on Thursday raised, Rs 1,925 crores / USD 250 million at a valuation of up to Rs. 70,070 crores / USD 9.1 billion from British International Investment into a new 4 Wheel Passenger Electric Vehicle Co. to be set up by Mahindra & Mahindra Ltd NSE -1.50 %.