Private Equity

PE Fund Investments

TVS Motor's EV biz in talks with TPG, KKR to raise $300-M

Mint  

Private equity giants TPG Capital and KKR & Co are in talks with TVS Motor Co Ltd to invest at least USD 300 million to fund the expansion of its electric vehicle (EV) business. TVS may raise USD 200 million more subsequently. TVS Motor Co may raise the money in the September quarter by selling 20-25% of TVS Electric Mobility Ltd. The money from the PE majors is most likely to be used for acquiring more startups in the EV space and expanding TVS Motor's partnership with BMW Motorrad for the joint development of new platforms and future technologies, including EVs.