India Business News: CHENNAI: Singapore-based asset manager Temasek will invest Rs 1,200 crore in Mahindra & Mahindra's four-wheeler passenger electric company.
Temasek, a global investment firm headquartered in Singapore, will invest INR 1,200 crore ($161m) in Mahindra Electric Automobile Limited (MEAL), making it the most valuable electric vehicle (EV) firm in India with a valuation of up to INR 80,580 crore ($9.8 billion). The deal, executed with Mahindra & Mahindra, will make Temasek one of its investors, with a 1.49% to 2.97% stake.