Tata Motors raises $1b from TPG, ADQ for electric vehicle business

Tata Motors raises $1b from TPG, ADQ for electric vehicle business

FILE PHOTO: A Tata Motors logo is pictured outside the company showroom in Mumbai, India February 5, 2018. REUTERS/Danish Siddiqui/File Photo

Indian automaker Tata Motors has raised about $1 billion from private equity firm TPG’s Rise Climate Fund and Abu Dhabi state holding company ADQ to expand its electric vehicle business, the company said on Tuesday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter