Mahindra aims for funds for EVs, in talks to raise over Rs.4,000 crore: Report
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India, Sept. 23 -- Mahindra and Mahindra is looking for investors to fund its new EV business as it plans to ramp up the electric vehicle push in India to take on Tata Motors. The carmaker, which specialises in manufacturing SUVs, had recently showcased its plans to go all-out on EVs with the debut of five electric concept vehicles in UK. It also unveiled the XUV400 electric SUV recently, which is set to be launched early next year. According to reports, Mahindra is looking to raise as much as $500 million (roughly converted to Rs.4,048 crore) to support its EV push.
News agency Reuters has cited 'sources with direct knowledge' who revealed that the carmaker is in talks to find a long-term global investor. The talks are in early stages w...
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