Tata Motors, India’s largest automobile manufacturer, is reportedly in talks with investors to sell a stake in its electric vehicle (EV) business. According to reports, the company is looking to raise funds to expand its EV operations and is in talks with potential investors, including private equity firms and venture capital funds.
The move comes as the Indian government is pushing for the adoption of electric vehicles in the country. The government has set a target of having 30% of all vehicles on the road to be electric by 2030. To meet this target, the government has been providing incentives to automakers to produce electric vehicles.
Tata Motors has been at the forefront of the EV revolution in India. The company has already launched several electric vehicles, including the Tata Tigor EV, the Tata Nexon EV, and the Tata Altroz EV. The company is also planning to launch more electric vehicles in the near future.
The company is reportedly looking to raise around $200 million from the stake sale. The funds will be used to expand its EV operations, including research and development, manufacturing, and marketing. The company is also looking to invest in new technologies to make its electric vehicles more efficient and cost-effective.
The move is seen as a positive step by the company to capitalize on the growing demand for electric vehicles in India. It is also expected to help the company gain a competitive edge in the EV market.
Tata Motors is one of the leading automakers in India and has been at the forefront of the EV revolution in the country. The company’s move to raise funds to expand its EV operations is expected to benefit the company in the long run. It is also expected to help the company gain a competitive edge in the EV market.