Business Standard

PE money floods electric vehicle firms with good technology base

PE players are betting big on the future growth of electric vehicles

EVs, Electric vehicles, cars, automobile, charging, battery
Premium

Many of the early EV startups failed to push the envelope in this area

Surajeet Das Gupta New Delhi
Private equity funds are giving an emphatic thumbs up to domestic electric vehicle (EV) companies with a strong technology and software base and the aim to scale up, as compared to incumbent vehicle makers as well as other EV startups.

This was clearly reflected in the deal that Tata Motors announced yesterday, raising Rs 7,500 crore from PE firm TPG and Abu Dhabi ADQ for a newly formed subsidiary which will make EVs, valuing the company at $9 billion.

Similarly, sources say that Ola Electric, which is yet to deliver its electric scooters to consumers, is raising another $200 million, which will

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 14 2021 | 12:56 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com