Since one of India’s top automakers, Tata Motors, expanded its EV business with a $1 billion investment from a US-based private equity group, Indian investors are very enthusiastic about the burgeoning electric vehicle (EV) industry.
TVS Motor, a two-wheeler manufacturer based in south India, is allegedly in talks to obtain funding for its EV business from worldwide private equity investors. Since announcing its plans to enter the electric vehicle market, the company has attracted a lot of investor interest.
The two-wheeler automaker announced the formation of a completely owned subsidiary dedicated to electric mobility.
A report said that TVS Motor is in talks with a clutch of global private equity investors to raise $300-500 million (₹2,220-3,700 crore) for its electric vehicle subsidiary at a valuation of $3.5-4 billion.
