Tata Motors Secures Final Tranche of $520 Million from TRG Rise Climate for EV Push
Ten News Network
Mumbai (Maharashtra), 1st Feb 2023: Tata Motors, one of India’s leading automobile manufacturers, has raised the final tranche of Rs 3,750 crore ($520 million) from TRG Rise Climate, an investment platform focused on clean energy solutions. The funds will be used to support Tata Motors’ transition to electric vehicles (EVs) and advance its clean energy initiatives.
The investment is part of Tata Motors’ plan to invest in new technologies and drive the adoption of EVs in India. The company has been making significant strides in the EV space and recently launched several new models, including the Tata Nexon EV, Tata Altroz EV, and Tata Tigor EV. The funds raised will be used to ramp up production, enhance product offerings, and expand the charging network across India.
TRG Rise Climate is a leading investment platform focused on investing in companies that are driving the transition to a low-carbon economy. The firm is committed to supporting the growth of companies that are making a positive impact on the environment and is focused on investing in clean energy, sustainability, and energy efficiency.
Tata Motors’ CEO, Guenter Butschek, said, “We are thrilled to have TRG Rise Climate as a strategic partner in our journey towards a sustainable future. The investment will help us accelerate our transition to EVs and advance our clean energy initiatives. Tata Motors has always been at the forefront of technology and innovation, and this investment will help us continue to drive the adoption of EVs in India.”
The investment in Tata Motors is a significant milestone in TRG Rise Climate’s mission to support the growth of companies that are making a positive impact on the environment. The firm’s CEO, Rajiv Rohatgi, said, “We are proud to be investing in Tata Motors and supporting the company’s transition to EVs. Tata Motors is a leader in the Indian automobile market and we believe that the company’s commitment to clean energy and sustainability will drive the growth of the EV market in India.”
In conclusion, the investment by TRG Rise Climate in Tata Motors is a testament to the growing interest in the EV market in India. The funds will support Tata Motors’ efforts to drive the adoption of EVs in the country and further advance its clean energy initiatives. The investment is also a positive step towards a more sustainable future for India and the world.