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Tata Motors - Electric Vehicle Stake Sale Unlocks Value; Indicative Of Potential: ICICI Direct

Tata Motors - Electric Vehicle Stake Sale Unlocks Value; Indicative Of Potential: ICICI Direct

<div class="paragraphs"><p>A sign marks a reserved parking space for an electric vehicle , outside Jaguar Land Rover Plc's Engineering  and Design Centre. . (Photographer: Chris Ratcliffe/Bloomberg)</p></div>
A sign marks a reserved parking space for an electric vehicle , outside Jaguar Land Rover Plc's Engineering and Design Centre. . (Photographer: Chris Ratcliffe/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Tata Motors Ltd. has raised $1 billion (~Rs 7,500 crore) via 11-15% stake sale (exact quantum dependent upon meeting of revenue thresholds) in its India electric vehicle business (EVCo) to TPG Rise (TPG Rise Climate Fund; ADQ is co investor).

The implied valuation of EVCo is pegged at $6.7 – 9.1 billion.

Tata Motors' EVCo will invest more than $2 billion (i.e. more than Rs 16,000 crore) over the next five years in products, platforms, drive trains, dedicated electric vehicle manufacturing, charging infrastructure and advanced technologies.

Committed to 10 electric vehicles by FY26.

Click on the attachment to read the full report:

ICICI Direct Tata Motors Company Update.pdf

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