British firm to invest Rs 650 crore in Mahindra's electric vehicle unit, part of larger investment plan.

British International Investment (BII) will invest Rs 650 crore in Mahindra Electric Automobile Ltd (MEAL), down from the initially planned Rs 725 crore. The investment, to be completed by March 2025, brings BII's total investment in MEAL to Rs 1,850 crore, giving them a 2.64% to 4.58% stake. This forms part of Mahindra's Rs 16,000 crore investment plan for electric vehicles from FY22 to FY27.

3 months ago
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