TPG to invest Rs 7,500 cr in Tata Motors EV arm at $9.1 bn valuation

By Biju KumarOctober 13, 2021

MUMBAI: TPG Rise will invest Rs. 7,500 crore in the newly incorporated wholly-owned subsidiary of Tata Motors NSE 18.45 % for electric mobility business, Tata Motors said in an exchange filing.

The company’s board approved the formation of a new subsidiary that will undertake the electric business in India as the company gears up for competition with Tesla.