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Temasek to Invest in Mahindra 

Mahindra & Mahindra Ltd recently announced that the global investment firm Temasek will invest ₹1,200 crore in its EV subsidiary, Mahindra Electric Automobile Ltd (MEAL).

They have jointly executed a binding agreement for Temasek to invest in the form of Compulsorily Convertible Preference Shares in the four-wheeler passenger electric vehicle company.

The investment will result in Temasek’s ownership of a 1.49% to 2.97% stake in Mahindra Electric Automobile Ltd.

Mahindra Electric’s Valuation Rise 

Temasek will also join British International Investments (BII) as an investor in MEAL. With this investment, Mahindra’s EV subsidiary’s valuation goes up by 15% to Rs 80,580 crore from its previous valuation of Rs 70,070 crore.

Mahindra to Scale Up Electric SUV Portfolio 

Mahindra & Mahindra Ltd is extremely delighted to have Temasek as a partner in their electric SUV journey. Globally known for its strong governance, Temasek’s investment is a step forward, as M&M executes its strategy towards future leadership in electric SUVs. Temasek’s experience will be valuable for MEAL and the amount invested will help Mahindra Group’s plan to minimise dilution.

The valuation of up to $9.8 billion is a testimony to Mahindra’s EV business and the progress in the journey toward scaling up the electric SUV portfolio.

This helps in demonstrating Mahindra’s ambition to build a global brand with their EV portfolio based on the INGLO platform in August 2022 in the UK, which is on track for execution. By doing this, M&M is strengthening its global strategic partnerships and is targeting an increase in sales from electric vehicles by 2027.

Read More:- Mahindra Might Bring Out the Electric Version of Thar 


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