IFC to invest INR 600 crore in M&M’s new last mile mobility company underway
IFC’s first investment in an EV manufacturer in the country and the first in electric three-wheelers globally will be in the form of compulsory convertible instruments at a valuation of up to INR 6,020 crore. The INR 600-crore investment will result in an ownership of between 9.97% to 13.64% for IFC in the new company.
Tags : ifc M&M last mile mobility electric three-wheelers EV manufacturer ev fuding passenger and cargo segments EV adoption electric two-wheelers clean energy transition
Disclaimer : We make no assurance about the completeness and accuracy of the content of this website. All news on this website is collected from various sources hence information may or may not be true. Money Nations does not verify the reliability of the content published. We do not accept any accountability for loss or damage occurred as a result of reliability on the content of this website.