Tatamotors_Tatapower_fastcharging EV point in Jaipur_cabecera

TPG Rise Climate, to invest $1Bn in Tata Motor’s new electric mobility company

Tata Motors Ltd (TML) and TPG Rise Climate have today entered into a binding agreement under which TPG Rise Climate along with its co-investor ADQ Rs 7,500 crore (around $1Bn) in compulsory convertible instruments to secure between a 11% to 15% stake in Tata’s new company devoted to develop electric mobility in India.
The investment will translate into an equity valuation of up to $9.1Bn.

The new company shall leverage all existing investments and capabilities of Tata Motors Ltd and will channelise the future investments into electric vehicles, dedicated BEV platforms, advanced automotive technologies and catalyse investments in charging infrastructure and battery technologies.
The plan is that this new company will create a portfolio of 10 EVs and in association with Tata Power Ltd, catalyse the creation of a widespread charging infrastructure to facilitate rapid EV adoption in India in the next 5 years.
The first round of capital injection will be completed by March 22nd theis year and the entire funds will be paid by end of 2022.

N Chandrasekaran, Chairman Tata Motors Ltd commented, “I am delighted to have TPG Rise Climate join us in our journey to create a market-shaping electric passenger mobility business in India. We will continue to proactively invest in exciting products that delights customers while meticulously creating a synergistic ecosystem. We are excited and committed to play a leading role in the Government’s vision to have 30% electric vehicles penetration rate by 2030.”

Tata Motors, India’s largest commercial vehicle manufacturer announced as well on 12th October the successful installation of the complete vehicle charging infrastructure at of the Worli BEST depot. Worli depot will be the fourth BEST depot to be electrified, after Backbay, Malvani and Shivaji Nagar depots, enabling wider reach of the electric buses in the city of Mumbai. Tata Motors has been delivering the electric buses to BEST as per schedule.

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Tata Motors delivers high speed charging point in BEST depot. © Tata Motors.

Today 13th October Tata Motors unveiled thet the company had joined hands with Endress+Hauser Flowtec (India) Pvt. Ltd to offer electric mobility solutions for employee transportation using state of the art electric buses specifically designed for stafftransportation.

This association marks a unique contract of electric buses by a corporate company in India. Tata Motors has delivered two units of 9-metre 34-seater AC electric buses and a DC fast charger for green employee mobility from its facility in Aurangabad, Maharashtra.

Tata Motors joins hands with EndressHauser Flowtec ev mobilityfor employees agreement_recortado
Tata Motor’s e-business flagged off by (l-R) Kulathu Kumar (President & Director Endress+Hausser Flow Tech India, Baldev Singh(Add Chief Sec -Industries-, Othman Hardegger (Consul General, Switzerland Embassy).© Tata Motos.

Jim Coulter, Managing Partner TPG Rise Climate and Founding partner of TPG commented, “We are excited to partner with Tata Motors on their mission to lead the electrification of passenger mobility in India. There is significant momentum around India’s EV movement, supported by the Government’s vision and policies, as well as growing consumer demand for greener solutions. The investment aligns with TPG Rise Climate’s focus on decarbonized transport and builds on TPG’s long history in India.”

Tata Motors is pioneering India’s Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies and playing an active role liasoning with the Government in developing the policy framework.
With operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia, supported by a strong global network of 103 subsidiaries, 9 associate companies, 4 joint ventures and 2 joint operations as on March 31, 2021, Tata Motors’ commercial and passenger vehicles are marketed in countries, spread across Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.

Image over the headline.- TataMotors – Tata Power high speed ev-charging point in Jaipur.© Tata Motors

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