TVS Motor is in talks with the Abu Dhabi Investment Authority (ADIA), Goldman Sachs, and Carlyle to invest $300-350 million in its electric vehicle (EV) arm. According to people familiar with the situation, the investment would raise the company’s potential valuation to $3-3.5 billion. Following Tata Motors and Greaves Cotton, TVS Motor Company would become the third publicly traded company to raise funds for an electric vehicle subsidiary.
If the transaction goes through at this price, it will become the most valuable two-wheeler EV company in the country. TVS Motor is currently valued at Rs 51,238.15 crore in the market.The board of TVS Motor Company approved the formation of a new arm to house its electric mobility business on October 21, 2021, and TVS Electric Mobility was incorporated as a subsidiary with an investment plan of Rs 1,000 crore in December.