M&M in talks to raise up to $500 mn for EV push, says report

Mahindra is in early talks with global green funds and private equity firms, says a source with direct knowledge of the matter

Indian automaker Mahindra & Mahindra is in talks with global investors to raise between $250 million and $500 million to accelerate its plans to build electric vehicles (EVs), a source with direct knowledge of the matter told Reuters.
 

Mahindra is in early talks with global green funds and private equity firms, the person said, adding that it wants a long-term investor who can help build out its EV business.
 

Some investors, however, in recent months have shown interest in participating in a funding round of worth around $800 million, two banking industry sources said, adding that they have held talks