Tata Motors incorporates Tata Passenger Electric Mobility as a wholly owned subsidiary
Tata Passenger Electric Mobility is incorporated with an initial capital of USD93 million
Indian vehicle manufacturer Tata Motors has incorporated a wholly owned subsidiary named Tata Passenger Electric Mobility Ltd (TPEML), with an initial capital of INR 7 billion (USD93 million), the company said in a regulatory filing on 22 December 2021. The new subsidiary will be involved in manufacturing and selling electric vehicles in India and overseas markets.
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