TVS seems to increase up to $ 5,000 cr in EV push

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According to two persons with direct knowledge of the situation, TVS Motor Co. Ltd is in advanced talks

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with private equity companies to raise 4,000-5,000 crore to fund the expansion strategy of the group's newly established electric mobility unit.

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"Through appropriate product offers and increased network presence in the country, TVS hopes to consolidate its position

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as a leader in the EV category," said one of the two persons, who asked to remain anonymous.

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"TVS Motor might raise around $ 500-650 million, which could be used for organic and brownfield expansion in the EV industry.

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TVS intends to enhance its EV revenue share and capitalize on the growing demand for electric vehicles around the world.

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"EVs are undoubtedly the future of mobility, and TVS aspires to be a leader in this field," the first person stated.

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As India focuses on decreasing car pollution in cities and reducing reliance on fossil fuels in the face of rising gasoline prices, TVS Motors is doubling down on electric vehicles.

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Customers on two wheels are increasingly moving to electric scooters in order to save money on gas and minimize pollution in India's big cities.

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Private equity firms and venture capital funds spend large sums in EV businesses in India, motivated by the industry's prospects

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and the requirement to invest in clean technologies. In 2021, funding for EV tech startups reached a high of $ 444 million

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