Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

TVS Motors In Talks To Raise Rs 4,000-5,000Cr For EV Business Expansion

- Advertisement -

TVS could use the proceeds of the proposed fundraising to create new electric vehicle facilities and battery manufacturing facilities

Automaker TVS Motor Co. Ltd is riding high on its plans to grow its EV business as it engages in advanced talks to raise Rs 4,000-5,000 crore from private equity firms, a report suggests.

“Around $500-650 million could be raised by TVS Motor, which could be used for organic and brownfield expansion in the EV space. TVS wants to increase the share of revenues from its EV business, capitalizing on the increasing demand for electric vehicles globally. EV is clearly the future of mobility, and TVS aspires to have a leadership position in this space,” Livemint cited one sources saying.

- Advertisement -

TVS could use the proceeds of the proposed fundraising to create new electric vehicle facilities and battery manufacturing facilities, which is somewhat similar to the structure adopted by the Tata group, which created a new renewables company as a step-down subsidiary of Tata Power to provide in-house lithium battery supplies and associated services for electric vehicles while keeping costs under stricter control.

TVS Motors is doubling down on electric vehicles as India sharpens its focus on reducing vehicular pollution in cities and cutting dependence on fossil fuels amid surging fuel prices.

TVS Motor invested in electric two-wheeler maker Ultraviolette Automotive in December.

TVS’ latest capital raising plan is also aimed at expanding its partnership with BMW Motorrad for the joint development of new platforms and future technologies, including EVs.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Electric 2-Wheelers May Cost Less Than ICE Models in 4-5 Years: Report

0
In a scenario where a subsidy of ₹15,000 per kWh is provided, it is anticipated that the upfront cost parity for short- and mid-range...

Thoughtworks And AWS Unveil SDV Pulse For Industry Megatrend Navigation

0
Global technology consultancy and Amazon Web Services have released their first annual report, designed to assist automakers in quickly maximizing the potential of software-defined...

EV Sales in India jumped 21% in H1 2024

0
As per JMK Research, electric vehicle sales in India hit a notable 927,097 units in the first half of this year, with the E2W...

Buzz

Continental Targets India’s Two-Wheeler Market With ARAS Safety Tech

0
The German Tier-1 major is currently negotiating with two leading Indian two-wheeler OEMs, aiming to integrate its radar-based advanced rider assistance systems into both...

India, Russia Partners To Boost India’s Defence Capabilities

0
Backed by Russia, HAL aims to produce and export Sukhoi Su-30 fighter jets in Nashik to enhance India's aerospace prowess and export potential. India's state-owned...

Electric 2-Wheelers May Cost Less Than ICE Models in 4-5 Years: Report

0
In a scenario where a subsidy of ₹15,000 per kWh is provided, it is anticipated that the upfront cost parity for short- and mid-range...

Important Sectors

Continental Targets India’s Two-Wheeler Market With ARAS Safety Tech

0
The German Tier-1 major is currently negotiating with two leading Indian two-wheeler OEMs, aiming to integrate its radar-based advanced rider assistance systems into both...

India, Russia Partners To Boost India’s Defence Capabilities

0
Backed by Russia, HAL aims to produce and export Sukhoi Su-30 fighter jets in Nashik to enhance India's aerospace prowess and export potential. India's state-owned...

Electric 2-Wheelers May Cost Less Than ICE Models in 4-5 Years: Report

0
In a scenario where a subsidy of ₹15,000 per kWh is provided, it is anticipated that the upfront cost parity for short- and mid-range...

Germany Likely To Abstain On EU China EV Tariffs Vote

0
The proposal might be hindered if a qualified majority of the European Union's 27 members oppose it. For a qualified majority, at least 15...

Zapp And Bounce Infinity Partner On Scooter Production at Bhiwadi Plant

0
The partnership will facilitate the manufacturing and distribution of Zapp's i300 electric urban motorcycles across India. Zapp Electric Vehicles Group Limited has unveiled a strategic...

Manufacturing

India, Russia Partners To Boost India’s Defence Capabilities

0
Backed by Russia, HAL aims to produce and export Sukhoi Su-30 fighter jets in Nashik to enhance India's aerospace prowess and export potential. India's state-owned...

Zapp And Bounce Infinity Partner On Scooter Production at Bhiwadi Plant

0
The partnership will facilitate the manufacturing and distribution of Zapp's i300 electric urban motorcycles across India. Zapp Electric Vehicles Group Limited has unveiled a strategic...

Empowering Innovation: The Role of MSMEs in India’s Defence Sector

0
If large industries are the “face” of the Indian economy as they provide the most visible aspect, then the MSMEs are surely the “firm...

Quality Control With AI-Driven Optical Inspection

0
This collaboration combines optical inspection technology with high-performance Edge AI hardware, significantly improving printed circuit board assembly efficiency, reducing waste, and enhancing overall process...

River Mobility To Invest INR 1,000 cr In New EV Plant

0
River Mobility is gearing up to invest in the automotive industry with a new INR 1,000 crore plant in Telangana, strategic expansions, and robust...