Temasek's investment is part of M&M's envisaged business plan to bring in Rs 10,000 crore investment in the electric vehicle manufacturing arm by FY2027
Singapore's government investment company Temasek will make a major investment in Mahindra Electric Automobile Limited, the four-wheel passenger electric vehicle unit of Mahindra & Mahindra.
Temasek has decided to invest Rs 1,200 crore. In the information given to the stock market on behalf of the company, it was told that it has entered into a definitive agreement with Temasek to invest Rs 1,200 crore in Mahindra Electric Automobile Limited (MEAL).
In terms of investment, the electric vehicle unit is valued at Rs 80,580 crore. M&M's MD and Chief Executive Officer (CEO) Anish Shah said that Temasek's investment is another step towards implementing their strategy regarding electric SUVs.
Temasek's investment is part of M&M's envisaged business plan to bring in Rs 10,000 crore investment in the electric vehicle manufacturing arm by FY2027.
Singapore's government investment company Temasek will make a major investment in Mahindra Electric Automobile Limited, the four-wheel passenger electric vehicle unit of Mahindra & Mahindra.
Temasek has decided to invest Rs 1,200 crore. In the information given to the stock market on behalf of the company, it was told that it has entered into a definitive agreement with Temasek to invest Rs 1,200 crore in Mahindra Electric Automobile Limited (MEAL).
In terms of investment, the electric vehicle unit is valued at Rs 80,580 crore. M&M's MD and Chief Executive Officer (CEO) Anish Shah said that Temasek's investment is another step towards implementing their strategy regarding electric SUVs. Temasek's investment is part of M&M's envisaged business plan to bring in Rs 10,000 crore investment in the electric vehicle manufacturing arm by FY20.21.