Can you tell me about Tata Motors plan to invest Rs.15,000 crore in EV business?

Tata Motors, one of the foremost names in the EV business in India today, is planning to invest Rs.15,000 crore in the electrical vehicles (EV) segment over the next 5 years. Tata Motors is already leading in the emerging EV segment in India by virtue of the launch of its Tata Nexon brand. Now to add to its offer palate, Tata Motors is planning 10 more new electrical vehicle (EV) offerings of different models, sizes and price bands.

Tata Motors EV business has already managed to raise up to $1 billion from private equity firm, TPG Capital, which assigns its EV unit an indicative valuation of $9.1 billion. However Tata Motors is also conscious of the fact that the growth of the EV business is substantially contingent on the charging and servicing ecosystem developing at an equal speed. Tata Motors has sold 22,000 EVs till date and is investing big in the EV ecosystem.