Tata Motors Passenger Vehicles Ltd.

Tata Motors is reportedly eyeing to raise $1 billion through sale of minority stake in electric vehicle (EV) division. In this regard, the company is in discussion with sovereign wealth funds and private equity investors. The company will repay part of its outstanding debt through the raised fund.

Tata Motors is India’s largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.