Tata Motors is not looking to sell a bigger stake in its recently created subsidiary, Tata Passenger Electric Mobility (TPEML), a senior has official indicated, as the environment is not conducive to raising funds.
TPEML will soon become a self-sustaining entity that meets its own funding requirements, the company has indicated. Responding to a query from FE, PB Balaji, chief financial officer, Tata Motors said, “One of the biggest sources of funds is likely to be PLI.
This should fund the remaining portion of the investments earmarked. The business is already Ebitda breakeven and we intend to turn Ebitda positive in the coming quarters.”
