India's TVS Motor Co Ltd is in talks with Abu Dhabi Investment Authority (ADIA), Goldman Sachs Group Inc and Carlyle Group Inc for an investment in its electric vehicle (EV) arm, the Economic Times reported on Wednesday.
The $300 million to $350 million investment would value TVS at about $3 billion to $3.5 billion, likely making it India's most valuable EV two-wheeler manufacturer, ET said, citing people with knowledge of the matter.
Due diligence is currently underway, the report said.
TVS, ADIA, Goldman Sachs and Carlyle did not immediately respond to Reuters' requests for comment.
TVS Motors, which makes the iQube e-scooter, had reported its EV sales had nearly doubled in the October-December quarter.
The company has also tied up with Amazon.com Inc's India unit to boost its EV business.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app