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Temasek to invest 1,200 cr. in Mahindra & Mahindra’s passenger EV firm

Published on August 04, 2023
Current Context: Temasek is a global investment firm headquartered in Singapore that has a portfolio of over $300 billion across various sectors and markets. It has recently announced that it will invest Rs 1,200 crore ($161 million) in Mahindra Electric Automobile Ltd (MEAL), the four-wheeler passenger electric vehicles company of Mahindra & Mahindra.
Temasek to invest 1,200 cr. in Mahindra & Mahindra’s passenger EV firm
  • This investment will make Temasek one of the investors in MEAL, along with British International Investments (BII), which invested Rs 1,925 crore ($258 million) in MEAL last year.
  • The deal values MEAL at up to Rs 80,580 crore ($9.8 billion), making it the most valuable electric vehicle (EV) firm in India. Temasek will own a 1.49% to 2.97% stake in MEAL after the conversion of the Compulsorily Convertible Preference Shares (CCPS) that it will purchase.
  • The investment by Temasek is seen as a vote of confidence in Mahindra’s EV strategy and vision, as the company aims to become a global leader in electric SUVs.
  • Mahindra has revealed its born EV portfolio based on the INGLO platform in August 2022 in UK, which includes models such as XUV700e, XUV500e, and XUV300e6. Mahindra is also targeting 20% to 30% of its SUV sales from electric vehicles by 2030.


Q.1 What is the name of the global investment firm that will invest Rs 1,200 crore in MEAL?
a. Temasek
b. BII
c. SoftBank
d. Sequoia

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