BII to make Rs 650 cr in final tranche of investment on M&M’s EV arm
New Delhi, December 30, 2024.
Automaker Mahindra & Mahindra Ltd on Monday said British International Investment Plc will make a final tranche investment of Rs 650 crore, as against earlier planned investment of Rs 725 crore, in its electric vehicles arm.
Earlier this year in May, the company had intimated that it and British International Investment Plc (BII) have mutually agreed to extend the timeframe for the final tranche of BII's planned investment of Rs 725 crore in Mahindra Electric Automobile Ltd (MEAL) and would jointly assess whether additional investment is required by December 31, 2024, M&M said in a regulatory filing.
In this connection, M&M said the company and BII have jointly assessed the funding requirement for MEAL on the basis of which it has been "mu...
