Mahindra EV unit raises funds from Singapore-based Temasek at Rs 80,580 crore valuation
With this investment, Mahindra’s EV subsidiary’s valuation goes up by 15 per cent from up to Rs 70,070 crore to up to Rs 80,580 crore, M&M said.
Temasek will invest the amount in Mahindra Electric Automobile Limited (MEAL) in the form of compulsorily convertible preference shares, according to a statement. | Image: Reuters