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Tata Motors raises USD1 billion from PE firm TPG, creates a subsidiary for its EV business

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Over the next five years, Tata Motors’ EV unit will create a portfolio of 10 EVs

Indian automaker Tata Motors Ltd and private equity firm TPG Rise Climate have entered into a binding agreement whereby TPG Rise Climate along with its co-investor ADQ, would invest about USD1 billion in a subsidiary of Tata Motors that will be newly incorporated, the company announced on 12 October.

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