- Tata to expand in electric car segment
- New EV firm to focus on electric cars
- Demand for electric cars is increasing in India
Tata New EV firm EVCo TPG Rise Climate 7500 crore: The future of electric vehicles in India is looking bright, as the focus of big automobile companies is increasing like this. Now a good news is coming that Tata Motors is about to set up a new Electric Vehicle (EV) business unit, for which it has tied up with investment firm TPG Rise Climate. There is also news that the immediate name of this new EV Subsidiary of Tata Motors is EVCo and in the coming times, TPG Rise Climate and its co-investor ADQ will invest Rs 7500 crore in it.
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emphasis on electric mobility
The homegrown automobile company has announced that its new EV subsidiary will launch 10 electric cars in the coming 5 years, whose prices may be higher or lower. Investor firm TPG Rise Climate is expected to hold an 11-15 per cent stake in Tata’s new EV firm, ie, it will receive an investment of around $9.1 billion. The real name of the new EV firm of Tata Motors will be revealed soon. The new firm EVCo will be responsible for the designing and IP of the upcoming electric car, while Tata Motors will look after the manufacturing and sales of the electric cars.
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Tata Motors has a special place in the electric segment
In a recent conversation with AutoCarIndia, Tata Motors Passenger Vehicle Business President Sailesh Chandra said that by the financial year 2026, Tata Motors will introduce 10 more electric cars in the total electric vehicle segment. We will put a plethora of options in front of our customers and they will buy as per their choice. Let us tell you that Tata Motors has a strong presence in the electric vehicle segment and the company’s mid-size SUV Tata Nexon EV is the best selling electric car. Recently, the company also launched Tata Tiago EV, an electric variant of its popular sedan Tata Tiago.
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