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 -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Analog Devices: element14’s New Distribution Partner

0
The official statement said customers can now consolidate their design requirements from a single source with a range of new technologies, products and services Strengthening...

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

Mouser Becomes Networking Partner for IEW-22

0
Technical experts from Molex, Renesas Electronics, and Würth Electronik will be present at Mouser's booth at India Electronics Week (IEW)-2022 Mouser Electronics, a premier semiconductor...

Exclusive

Analog Devices: element14’s New Distribution Partner

0
The official statement said customers can now consolidate their design requirements from a single source with a range of new technologies, products and services Strengthening...

South Korea Gets a New Manufacturing Facility

0
The facility is to manufacture vacuum and abatement systems which are used in the global manufacturing of semiconductors.  Part of the Atlas Copco Group, the...

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

Important Sectors

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

India Assumes Chair of Global Partnership on AI

0
MoS Rajeev Chandrasekhar represented India at the Global Partnership on Artificial Intelligence (GPAI) Summit He believes National Data Governance Framework Policy with Indian...

ABB E-mobility Raises $200 Mn in Pre-IPO Pvt Placement

0
The company hopes to continue on its growth trajectory driven by both organic and M&A investments Zurich-based ABB E-mobility, a leading electric vehicle (EV) charging...

PMV’s EaS-E Electric Car Launched In India

0
With a top speed of 70 kmph, it claims to clock from zero to 40 kmph within five seconds. The nano-sized EV is...
Startup Funded

Spot AI: Video Intelligence Start-up Secures $40 Mn

0
The modern AI camera system maker aims to transform data from business cameras into video intelligence and accelerate its expansion Video intelligence company Spot AI...

Manufacturing

New Product Distribution Center by TI in Germany

0
The centre in Frankfurt enables same-day delivery to central Germany next-day delivery capabilities to most European-based customers.  Texas Instruments, a global semiconductor company whose presence...

Redwood to Supply High-Nickel Cathode to Panasonic

0
Despite the increasing demand, there is no cathode production at scale in North America today: Battery material maker Redwood As per the latest reports, Panasonic...
Infineon, CoolSiC

Infineon Planning New Factory in Dresden

0
The semiconductor major has enhanced its long-term financial targets after witnessing a remarkable FY22 Germany-based Infineon Technologies recently released its results for the fourth quarter...

Uno Minda To Invest Rs 400 Cr In New Light Plant

0
The plant is intended to be commissioned by Q4 FY24 The group registered its highest-ever quarterly performance recently As per the latest reports, the...

New Demonstration Facility by SASinno in Washington

0
Ant-i1 offline selective soldering machine and SELMATE-4 N2 generator are up for demonstration. SASinno that stands for “Smart and Steady Innovation”, has announced a new...