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Tata Motors to Raise $1 Billion for its Passenger Electric Vehicle Subsidiary

TPG Rise will acquire a stake of between 11% and 15% at an equity valuation of $9 billion

October 13, 2021

/ Arjun Joshi
/ Electric Vehicles, Finance and M&A
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TPG Rise Climate, the climate investing strategy of TPG’s global impact investing platform, and Abu Dhabi Developmental Holding Company (ADQ) have entered into a binding agreement to invest ₹75 billion (~$995.19 million) in a subsidiary to be created by Tata Motors for electric vehicles (EV).

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Arjun Joshi

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ADQEVFundingTata MotorTPG
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