Tata Motors will invest as much as $2 billion (Rs 15,000 crore) over the next four years to launch 10 new electric vehicles just as its broader passenger vehicles division which was in losses till a few years ago. This comes just days after private equity major TPG Rise Climate decided to invest $1 billion in Tata Motors EV segment at a valuation of $9.1 billion. The company hopes to turn around and generate free cash flow by 2022-23.
SOURCE: ECONOMIC TIMES
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