Recently, the Tata Motors and TPG
Rise Climate has entered into a binding agreement, wherein the latter along
with its co-investor ADQ will invest in its newly incorporated subsidiary of
TPG Rise Climate would invest nearing
to Rs. 75 billion in compulsory convertible instrument, wherein it would secure
about 11 to 15% stake in this company, thus translating to an equity valuation
nearing to $ 9.1 billion.
The carmaker looks to expand beyond 100 cities and 255 touchpoints. The new
company would help in leveraging entire existing investment and capabilities of
TATA Motors and it would also help in channelizing the future investment in EVs,
dedicated BEV platforms and advanced automotive technologies and catalyse the
investments in charging infrastructure and also battery technologies.
To have market dominance, Tata Motors is going about its EV business in a
strategic manner and it would comprise a holistic offering of network and
charging infrastructure and products. The carmaker, which is witnessing a
robust demand for its passenger vehicle business, is also notching speedy gains
in the electric passenger vehicle.
By recognizing the growing demand from the fleet user segment, Tata Motors has
introduced the Xpres-T EV in mid-September. The eco-friendly sedan, targets
mobility services, corporate and government fleet customers, which comes with
an optimal battery size as well as captive fast charging solution, both of
which are designed to provide a low ownership cost.
TATA Motors has been implementing Project
Helios, wherein it has confirmed its plans to expand its portfolio by offering
india-specific products having different body styles as well as driving ranges,
that is 10 EVs by FY2026.
It would also like to introduce a
subscription model for TATa EVs and it has got plans to further increase
localisation levels of EV components (both Tier 1 and Tier 2) and this would
help optimize the costs.
The Hans India