Pratik Rakshit, New Delhi
N Chandrasekaran, Chairman of Tata Motors Ltd said, “I am delighted to have TPG Rise Climate join us in our journey to create a market-shaping electric passenger mobility business in India. We will continue to proactively invest in exciting products that delight customers while meticulously creating a synergistic ecosystem. We are excited and committed to playing a leading role in the government’s vision to have a 30 per cent electric vehicle penetration rate by 2030.”
It is expected that the first round of capital infusion will be completed by March 2022, and the entire funds will be infused by end of 2022. Morgan Stanley and JP Morgan are the joint financial advisors to TML, while BofA Securities India Ltd are representing TPG Rise Climate for this transaction.
Source: India Today