India's Tata Motors in talks to raise $1b via minority stake sale in EV business

India's Tata Motors in talks to raise $1b via minority stake sale in EV business

FILE PHOTO: Workers install the electric motor inside a Tata Nexon electric sport utility vehicle (SUV) at the Tata Motors plant in Pune, India, April 7, 2022. REUTERS/Francis Mascarenhas

Indian carmaker Tata Motors has begun talks with sovereign wealth funds and private equity investors to raise up to $1 billion via a stake sale in its electric vehicle (EV) business, Economic Times reported on Thursday, citing sources.

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