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TVS Motors To Raise Rs 4000-5000 Cr From Private Firms For EV Expansion

Two-wheeler clients are additionally progressively changing to electric bikes as they look to reduce down on fuel expenses

Photo Credit : TVS Motor Company

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TVS Motors is planning to raise Rs 4,000-5,000 crore from private equity firms to subsidise the extension plan of the group's recently framed electric mobility arm, said two individuals regarding this matter.

The company is multiplying down on electric vehicles as India hones its emphasis on decreasing vehicular contamination in urban areas and cutting reliance on petroleum products in the midst of flooding fuel costs.

"Around USD 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," said company spokesperson.

Two-wheeler clients are additionally progressively changing to electric bikes as they look to reduce down on fuel expenses and decrease discharges in India's profoundly contaminated urban communities.

Buoyed by the industry's possibilities and the command to put resources into clean advances, confidential value organisations and investment reserves are putting gigantic sums in EV new companies in India. Subsidising to EV tech new companies recorded its unequaled high in 2021 at USD 444 million across 25-odd deals.


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tvs motors electric vehicles