In an effort to profit from its investments in the electric vehicle (EV) industry, the Tata Group is considering listing of Tata Passenger Electric Mobility Ltd (TPEM), the company that manufactures EVs.
The biggest producer of electric vehicles (EVs) in India, TPEM is a division of the massive passenger car company Tata Motors. It is the creator of the popular EV models Tiago.ev and Nexon.ev. Reports state that TPEM is valued between $9.5 and $10 billion.
With a market share of more than 80%, Tata Motors leads the electric vehicle industry.
According to reports, Tata Motors, through TPEML, has sold more than 53,000 electric vehicles in FY24 and anticipates selling roughly 100,000 EVs in FY25.
Sales of electric vehicles (EVs) at Tata Motors increased to 6,979 units in January, up 69% year over year (including exports). Tata Motors intends to offer ten electric vehicles in its lineup over the next three to four years after opening EV-only dealerships in September.
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