Mahindra in Talks to Raise Up to $1.3 Billion for Accelerating EV Unit’s Expansion
Mahindra in talks to raise $1.3bn for EV unit from global investors, planning to sell shares in its unit valued over $9.1bn in multiple tranches over the next two fiscal years. The move is aimed at accelerating the expansion of its EV capacity as the Indian government targets 30% of total annual car sales to be EVs by 2030.