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Tata Motors Forms New Subsidiary For Electric And Hybrid Vehicles

Tata Motors has formed a wholly-owned subsidiary for the electric vehicle division with an initial capital of Rs 700 crores. Named Tata Passenger Electric Mobility Limited (TPEML), this new sub-brand will handle the design, development, and manufacturing of hybrid and electric vehicles for Tata Motors. The Ministry of Corporate Affairs, Government of India has issued the Certificate of…

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Tata To Launch 10 New EVs Over The Next 5 Years; Gets 7,500 Crore Investment From TPG Rise Climate

Tata Motors has announced the creation of a new electric vehicle subsidiary in the country tentatively named EVCo. With this, the homegrown maker has also entered into an agreement with TPG Rise Climate (a dedicated climate investing firm) whereby the TPG and its co-investor ADQ will invest Rs 7,500 crore in Tata's newly created EV sub-brand to secure its 11-15 percent stake, translating…

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