Tata Motors gets first tranche of Rs 7,500 crore TPG investment

Tata Motors on Wednesday said that it has received ₹3,750 crore from TPG Rise Climate as the first tranche towards the latter's ₹7,500 crore investment in the automaker's electric vehicle business.

The company had announced last October that TPG Rise Climate along with its co-investor ADQ, shall invest ₹7,500 Cr in compulsory convertible instruments to secure between 11% to 15% stake in its EV business.

A new subsidiary Tata Passenger Electric Mobility Ltd has been incorporated for the same.