Tata Motors soars 20 percent on news of fund raise for EVs
Al Jazeera
The Jaguar Land Rover owner has raised $1bn for its EV business for which it will form a separate unit.
Tata Motors will invest more than $2bn in its electric vehicle (EV) business over the next five years, a company executive has said after the Indian automaker announced raising funds from private equity firm TPG.
TPG’s Rise Climate Fund and Abu Dhabi state holding company ADQ have agreed to invest about $1bn to expand the company’s EV business for which it would form a separate unit, Tata Motors said in an exchange filing on Tuesday.
TPG and ADQ would hold between 11 percent and 15 percent in the new EV entity, valuing it at about $9.1bn, Tata said. The unit will invest in new models, dedicated battery electric vehicle platforms, charging infrastructure and battery technologies.
In Akodo-Ise in Lagos, homes, livelihoods and even graves have been lost to ocean encroachment due to climate change.
The Israeli army did not confirm or deny the claim as it continues to hit Gaza, killing dozens since Saturday.
The BJP’s record win in Maharashtra underscores how it has bounced back from its setback in parliamentary elections.
These were the key developments on the 1,004th day of the Russia-Ukraine war.
Verstappen edges Norris in the race and becomes the sixth man to claim four world championship titles, all in a row.
Former rivals team up before new tennis season as Djokovic seeks record 25th singles and 11th Australian Open title.
Zambian striker Barbra Banda scored the only goal as Orlando beat the Washington Spirit 1-0 in the championship game.
Florida State Senator Randy Fine, who celebrated Israel’s killing of a US citizen, gets president-elect’s support.
Relentless Israeli bombardment continues in Gaza, Lebanon, as Hamas says a captive was killed in an Israeli air attack.
Director of the Kamal Adwan hospital says several staff wounded in Israeli bombardment.