Tata Motors NSE 0.46 % is evaluating opportunities to raise capital from potential strategic partners or investors, including private equity funds and sovereign wealth funds, for its electric vehicle (EV) business as the automaker works towards building a range of affordable electric cars. Top officials close to the development said the talks are at an early stage and may not result in a deal.
In March 2020, the Tata Motors board had approved a plan to hive off the passenger vehicle (PV) business, which includes EVs, into a separate subsidiary and seek investors to help the unit secure its long-term viability.
