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UK’s BII extends timeline for final tranche investment in Mahindra’s EV arm

VCCircle · 1y

Mahindra & Mahindra (M&M) announced an extension of the timeline for the final tranche of investment in its electric vehicle (EV) subsidiary by British International Investment (BII). The UK development finance institution had agreed to invest INR 1,925 crore in two stages. M&M said it has approved an investment of INR 12,000 crore in Mahindra Electric over the next three years and expects to generate sufficient operating cash. Singapore's Temasek has also invested INR 300 crore in Mahindra Electric and will invest the remaining INR 900 crore.