Tata Motors stock jumped another 6.7% in morning trading

Tiger Newspress2021-10-13

Tata Motors stock jumped another 6.7% in morning trading after surged nearly 13% yesterday.

Indian automaker Tata Motors has raised 75 billion rupees ($994 million) from private equity firm TPG's Rise Climate Fund and Abu Dhabi's ADQ to expand its passenger electric mobility business, the company said on Tuesday.

Tata will form a separate electric mobility unit in which TPG and ADQ will get between 11% and 15% share against compulsorily convertible shares, valuing the new entity at about $9.1 billion, the company said in a statement.

The funds will be used to invest in electric vehicles, dedicated BEV platforms, charging infrastructure and battery technologies, Tata Motors said.

The automaker has plans to launch 10 new EVs by 2025 as well as invest in setting up charging infrastructure across the country.

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精彩评论

ZJ0429
2021-10-14
ZJ0429
gogo
丰人
2021-10-14
丰人
Good.
Liuliusg
2021-10-13
Liuliusg
Good
MHh
2021-10-13
MHh
Not Tesla
- sunshine138:
  Want to be like TSLA
- MHh:
  Haha a wannabe
- CCCH:
  yes, may be
- MHh回复CCCH:
  Stands a chance
MHh
2021-10-13
MHh
Wow
LionCaleb
2021-10-13
LionCaleb
Later really Tata (Bye-bye means)
- ZJ0429:
  no

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