{"id":52350,"date":"2022-07-08T10:25:00","date_gmt":"2022-07-08T04:55:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=52350"},"modified":"2022-07-08T10:21:28","modified_gmt":"2022-07-08T04:51:28","slug":"from-mail","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/from-mail\/","title":{"rendered":"British International Investment to invest up to Rs 1,925 Cr in Mahindra&#8217;s four-wheeler EV biz"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3641838387\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mahindra &amp; Mahindra (M&amp;M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1445283316\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity &#8212; &#8220;EV Co&#8221;.<\/p>\n<p>According to the pact, BII will invest up to Rs 1,925 crore in the form of compulsory convertible instruments at a valuation of up to Rs 70,070 crore, resulting in 2.75 per cent to 4.76 per cent ownership in the EV Co, M&amp;M said in a regulatory filing.<\/p>\n<p>EV Co will focus on four-wheel (4W) passenger electric vehicles, it added.<\/p><div class=\"trade-content_5\" id=\"trade-3171818275\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The total capital infusion for EV Co is envisaged to be around Rs 8,000 crore\/USD 1 billion between Financial Year 24 and FY 27 for the planned product portfolio, the automaker noted.<\/p>\n<p>M&amp;M and BII will work jointly to bring other like-minded investors in the company to match the funding requirement in a phased manner, it added.<\/p>\n<p>&#8220;We are extremely delighted to have BII as a partner in our SUV electric journey. In BII, we have found a like-minded long-term partner who is committed to combating the climate emergency,&#8221; M&amp;M MD &amp; CEO Anish Shah said.<\/p>\n<p>The Mahindra Group aims to be &#8220;Planet Positive&#8221; by 2040, he noted.<\/p>\n<p>&#8220;Mahindra has been a pioneer in the electric vehicles space, and we are confident we will be the leaders in the electric SUV market in the future,&#8221; Shan stated.<\/p>\n<p>M&amp;M Executive Director \u2013 Auto &amp; Farm Sectors Rajesh Jejurikar said the company expects 20 to 30 per cent of company SUVs to be electric by 2027.<\/p><div class=\"trade-content-10\" id=\"trade-568439402\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>BII CEO Nick O\u2019Donohoe said its anchor investment will be key to attracting additional sources of private capital into this exciting venture with the Mahindra Group.<\/p>\n<p>&#8220;The acceleration of EV development in India will be critical to supporting the country in reaching its emission targets as well as improving air quality in many urban areas,&#8221; he stated.<\/p>\n<p>The company said it expects that the first round of BII&#8217;s capital investment to be completed not later than June 2023 on fulfilment of conditions precedent and the balance post completion of certain milestones in FY24.<\/p>\n<p>M&amp;M noted that BII&#8217;s investment is designed to significantly accelerate the availability and adoption of electric vehicles in India and other markets served by the automaker.<\/p>\n<p>EV Co. will significantly leverage the broader manufacturing capabilities, product development, design organisations along with the ecosystem of suppliers, dealers, and financiers of M&amp;M.<\/p>\n<p>The funds will be utilised primarily to create and market electric SUV portfolios with advanced technologies, M&amp;M said.<\/p>\n<p>BII is the new name for the UK&#8217;s Development Finance Institution which was formerly known as CDC Group.<\/p>\n<p>It invests between GBP 1.5 and GBP 2 billion every year to support the UK Government&#8217;s Clean Green Initiative.<\/p>\n<p>The company has investments in over 1,300 businesses in emerging economies and total assets of GBP 7.7 billion. PTI MSS SMN<\/p>\n<div class=\"trade-after-content\" id=\"trade-2492564509\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mahindra &amp; Mahindra (M&amp;M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity &#8212; &#8220;EV Co&#8221;. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[],"class_list":["post-52350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>British International Investment to invest up to Rs 1,925 Cr in Mahindra&#039;s four-wheeler EV biz - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/from-mail\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"British International Investment to invest up to Rs 1,925 Cr in Mahindra&#039;s four-wheeler EV biz\" \/>\n<meta property=\"og:description\" content=\"Mahindra &amp; Mahindra (M&amp;M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. 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