From Breakingviews - Electric vehicle premiums will ride high in India
has a 42% market share in passenger vehicles but it is dragging its feet in making the transition to clean energy models. The next challenge for India’s EV makers is to win the market’s enthusiasm too.India’s Mahindra and Mahindra on Aug. 3 said Temasek will invest $145 million in the Indian car company’s electric vehicle unit at a post-money valuation of up to 805.8 billion rupees .
The deal will happen in one or more tranches, handing the Singaporean investor a stake of between 1.49% and 2.97%. Temasek will receive pre-emptive rights to participate in future funding rounds. Mahindra’s electric vehicle unit last year raised up to $250 million from British International Investment, the UK's development finance institution, at a valuation of up to $9.1 billion.
Mahindra said it expects electric models to make up between 20% and 30% of its total sales of sports utility vehicles, the largest part of its autos business, by March 2027.Editing by Una Galani and Katrina HamlinOpinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Wiregrass Electric to launch incentivized charging program for electric vehiclesElectric vehicle owners will have a new way to save money in the long run thanks to Wiregrass Electric Cooperative’s new partnership for a pilot program.
Lire la suite »
Cadillac Reveals The Escalade IQ 7-Passenger Electric SUV With 450-Mile Range - CleanTechnicaThe Cadillac IQ electric SUV goes into production about a year from now as a 2025 model. Is it relevant to the EV revolution?
Lire la suite »
Nikola recalls 209 Class 8 battery-electric trucksNikola on Friday said it is recalling about 209 of its Class 8 Tre battery-electric vehicles (BEVs) as a precautionary measure.
Lire la suite »
2025 Porsche 718 Boxster EV Spied As An Edgier, Electric Roadster | CarscoopsThe Porsche 718 Boxster EV has been spied with the roof down and it features an evolutionary design with an edgier front end car auto cars
Lire la suite »
Germany: All-Electric Car Sales Share Improved To 20% In July 2023In July, the total new plug-in electric car registrations in Germany amounted to 63,027 (up 20% year-over-year), which is 25.9% of the total volume.
Lire la suite »
Proterra's bust highlights big problems for the future of electric vehicles as mass transitProterra, one of the largest electric bus manufacturers in the United States, and its surprise bankruptcy filing reveals the struggles that green-friendly companies face in the current economy.
Lire la suite »